PGS Announces Second Cyprus License Round

The second license round offshore Cyprus opened 11th of February 2012. There will be official opening presentations by the Ministry of Commerce, Industry and Tourism of the Republic of Cyprus in Houston 22nd of February at the International pavilion at NAPE and in London at APPEX 6th of March.

License Round duration

The round is open for 90 days from 11th of February to 11th of May 2012.

Available acreage

The exploration area of 51,000 sq.km, is part of the exclusive economic zone (EEZ) of Cyprus and is divided into 13 exploration blocks (see map below). 12 blocks are available in the second license round. Noble Energy was awarded Block 12 in 2008 after the first licensing round. They were awarded a three year exploration license. The exploration blocks are, on average, approximately 4,000 sq km and span an area from the Herodotus Basin in the west to the Levantine Basin in the east. Block 1, and the northern parts of blocks 2 and 3 are closest to the island and cover the Cyprus Arc and its deformation front. Blocks 4, 5, 6 and 10 are situated in the Herodotus Basin. Blocks 7 and 8 and the western part of block 11 cover the Eratosthenes Continental Block and the west Eratosthenes Basin and finally the southern parts of blocks 2 and 3, together with blocks 9, 12 and 13 cover the Levantine Basin.

Available data

As the official data provider to the 2nd license round, PGS offers unparalleled data coverage and data quality over the approximately 51,000 sq km of acreage offshore Cyprus:

* PGS MC2D CYP2006: 6,776 km of MC2D data covering all 13 blocks, with 10 x 20 km grid. Served as the basis for the 1st license round in 2007. Reprocessed in 2011.

* PGS MC2D CYP2008: 12,266 km of MC2D data covering all 13 blocks, infilling the 2006 program down to a 5 x 5 km grid. Acquired using the GeoStreamer dual-sensor technology.

* PGS MC3D CYP2007: 659 sq km of MC3D data in Block 3. First MC3D survey to be acquired in Cyprus.

[mappress]
Subsea World News Staff , February 16, 2012;  Image: PGS

 

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