Early Cyprus so­lu­tion will boost en­ergy projects, say Anas­tasi­ades-Ne­tanyahu

Financial Mirror (Cyprus) - - FRONT PAGE -

Is­rael has a strong in­ter­est in the res­o­lu­tion of the Cyprus prob­lem, since this would greatly fa­cil­i­tate the pace of de­vel­op­ment for fu­ture en­ergy projects, Pres­i­dent Ni­cos Anas­tasi­ades and the Prime Min­is­ter of Is­rael Ben­jamin Ne­tanyahu un­der­lined in a joint state­ment, fol­low­ing their meet­ing on Sun­day.

“In the con­text of the ex­plo­ration and de­vel­op­ment of en­ergy re­sources in the east­ern Mediter­ranean, both lead­ers con­cluded that there is no ques­tion that re­solv­ing the out­stand­ing is­sues be­tween Cyprus and Tur­key would greatly fa­cil­i­tate the pace of the de­vel­op­ment of fu­ture projects, which will pro­ceed ac­cord­ing to in­ter­na­tional law, as well as greatly en­hance sta­bil­ity in the region.

“There­fore, Is­rael has a strong in­ter­est in the res­o­lu­tion of this is­sue,” it is noted.

It is also added that the two sides dis­cussed the uni­ti­sa­tion is­sue re­gard­ing the “Aphrodite” and “Yishai” gas fields, and con­cluded that by Septem­ber 2016 the two En­ergy Min­is­ters will seek to fi­nalise th­ese dis­cus­sions.

The Jerusalem visit took place in the back­drop of a deal be­tween Is­rael and Tur­key to nor­malise their af­ter sev­eral years..

bilateral

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More­over, Cyprus has con­cluded a process for the sub­mis­sion of bids ahead of a third li­cens­ing round in the ex­clu­sive eco­nomic zone (EEZ). A to­tal of six bids from eight com­pa­nies were sub­mit­ted - in­clud­ing com­pa­nies from Is­rael - while the al­lo­ca­tion of fi­nal li­censes is awaited.

Is­raeli Delek Group Ltd announced Sun­day that its gas and oil ex­plo­ration units Avner Oil and Gas LP and Delek Drilling LP have bid for the Cyprus EEZ third li­cens­ing round for hy­dro­car­bon ex­plo­ration on blocks 6, 8 and 10. Delek is al­ready a 30% share­holder in the li­cense for Aphrodite gas­field in block 12 of the Cyprus EEZ.

Ac­cord­ing to “Globes”, win­ning such a bid would be syn­er­gis­tic to its op­er­a­tions in Is­rael’s off­shore gas fields.

The bid by the Delek units was sub­mit­ted as part of the Capricorn Oil con­sor­tium. Capricorn is the con­sor­tium’s op­er­a­tor and is a unit of Cairn En­ergy, which is traded on the Lon­don Stock Ex­change.

The names of the in­ter­ested com­pa­nies and con­sor­tia will be announced next on Wed­nes­day, af­ter the Min­is­ter will have of­fi­cially in­formed the Cab­i­net.

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