Middle East Economic Survey

VOL. LIV

No 35

29-Aug-2011

CYPRUS

Noble And Delek Update Cyprus Block 12 Agreement

Noble Energy of the US and Israels Delek Group on 22 August announced an update in their agreement concerning Block 12 offshore Cyprus, where Noble currently holds a 100% interest and intends to drill its first well by 1 October of this year. Delek holds a 30% option to farm in to Block 12, for which a production sharing agreement (PSA) was awarded to Noble by the Cypriot government...