Delek Drilling committed to Aphrodite (Cyprus)

  • Business & Finance

The President of Republic of Cyprus Nicos Anastasiades met Friday with a Delek Drilling delegation led by the company’s CEO Yossi Abu, at the Presidental Palace.

The CEO of the Delek Drilling said after the meeting that the company was committed to developing the Aphrodite field as well as to supply the Cypriot and Egyptian market in the fastest and the most efficient way.

“We already started the process of marketing the gas into those markets and we have long discussions with potential buyers for this gas and we are fully committed to developing the reservoir,” he said.

“We see a very positive outcome of the discovery of ENI in Egypt which puts East Med gas into focus and enhances the potential of East Med oil and gas discovery, which means, we believe, that there is more potential in the Cypriot offshore for more discoveries of oil and gas,” Yossi Abbu added.

He further said: “The discovery in Egypt brings us to a place that we assess the Egyptian market and the need for gas in this market.”

“We see more potential in the local market of Egypt for more demand for natural gas. The needs and the demand for natural gas in Egypt is around 60-70 bcm a year which is a significant demand and we believe that there is a place also for natural gas from the Cypriot discoveries.”

Abu also said that the company had submitted a development plan.

“Today the Government will provide comments to our plan,” he said and added that Delek Drilling is working very closely with the Government.

Concluding, he said that Delek Drilling is working very closely with a very professional Minister and team in order to bring about benefits to the Cypriot citizens.

To remind,  Cyprus government in June welcomed declaration of commerciality of the “Aphrodite” natural gas offshore field by the operator, Noble Energy.

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