Delek delays Aphrodite drilling offshore Cyprus

Delek delays Aphrodite drilling offshore Cyprus

Offshore staff

TEL AVIV, Israel – Delek Group’s gas subsidiaries have postponed the drilling of an additional test well on block 12 offshore Cyprus from Oct. 23, 2015, until May 23, 2016. This proposed date coincides with the license expiry.

As of today, the block 12 partners and the Cypriot government are examining options for amending the development plan as required under the production-sharing contract. Discussions are also being conducted with regard to the proposed outline for Aphrodite reservoir’s development plan.

The block 12 Aphrodite gas reservoir was declared commercial earlier this year.

In its full year 2014 results, released in March 2015, Delek characterized Aphrodite, located on the block 12 license, as a 4.5-tcf (contingent and prospective) natural gas discovery. At that time, Delek announced on behalf of it partners that the drafted, preliminary plan for Aphrodite included the establishment of a FPSO with an estimated initial production capacity of approximately of 800 MMcf/d.

Operator Noble Energy announced in August that it was considering a plan that included gas exports to Egypt.

Noble operates the block with a 70% interest, in partnership with Delek subsidiaries Avner Oil Exploration and Delek Drilling (each 15%).


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