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Total and Noble Energy to join CNHC in Cyprus LNG Project

Cyprus selected Vassilikos to locate three LNG Trains

2B1st_Project_Smart_Explorer_Sales_Pursuit_ToolThe French major company, Total, is reported to have signed a memorandum of understanding (MOU) with the newly formed Cyprus National Hydrocarbons Company (CNHC) on the second liquefied natural gas (LNG) train of the Cyprus LNG project.

Through this agreement Total is joining Noble Energy (Noble) from Houston, Texas, and the Israel companies Delek Drilling and Avner Oil Operations who signed with CNHC for the first train of this Cyprus LNG project.

Noble_Aphrodite_Cyprus_Block-12To be located close to Vassilikos in Cyprus, this Cyprus LNG project came up unexpectedly from the discovery of the Aphrodite field along the Israel border and close to the similar Tamar and Leviathan natural gas fields.

As a result of the first licensing round, only Noble had taken the risk to submit an offer in these sensitive territorial waters for the Block 12.

At its first exploratory well in this Block 12, Noble hit giant Total reserves estimated to 7 trillion cubic feet (cf) of gas.

With such amount of reserves at first drill, Cyprus and Noble had easy to move on a first LNG Train.

In February 2012, the Cyprus Government organized a second license round for 12 blocks.

In October 2012, the Cyprus Government awarded only four blocks:

 – Blocks 2 and 3 to Eni from Italy and Kogas from South Korea in consortium

 – Block 9 to Total from France in consortium with Russian partners Novatek and GPB Global Resources

 – Block 11 to Total

The Block 9 and 11 are surrounding the famous Block 12, giving Total high expectations to find natural gas resources in quantities far enough to feed a second LNG train in Vassilikos.

Noble_Cyprus-LNG_Project_Vassilikos_site

CNHC awarded Cyprus LNG feasibility study to Technip

CNHC awarded the French engineering company Technip a contract to perform the feasibility study of the Cyprus LNG project.

According to the size of the first discoveries, the LNG trains of the Cyprus project should have a capacity of 5 million t/y of LNG each.

In respect with the exploration contracts signed by the Cyprus Governement with Noble on the Block 12 and with Total on the Blocks 9 and 11, the Cyprus LNG project should be developed in phases.

The first LNG Train should require the construction of all the infrastructures for the:

Total_Cyprus_LNG_Train – Inlet gas pipeline

 – Gas treatment

 – Liquefaction units

 – LNG Storage facilities

 – Jetty for offloading the LNG carriers

CNHC estimated the investment of the first Cyprus LNG Train to $6 billion capital expenditure.

In a second phase the Cyprus LNG Train-2 project should require only $3 billion capital expenditure.

Then CNHC is accommodating the Vassilikos site to be large enough to host a third LNG Train as soon as further discoveries in the existing blocks or in the new blocks to be awarded will allow it.

With Aphrodite lying in deep water by 1,700 meters depth within the Block 12, Noble is considering a development with:

 – Subsea wells

 – Floating Production Unit (FPU)

 – 190 kilometers export pipeline to Vassilikos

With Technip working on the pre-front end engineering and design (pre-FEED), CNHC and its partners, Noble and Total, are targeting a final investment decision (FID) in 2015 for Cyprus LNG project to start commercial operations in 2019.

 For more information and data about oil and gas and petrochemical projects go to Project Smart Explorer2B1st_Project_Smart_Explorer_Sales_Pursuit_Tool

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