News from EMGC 2013: Noble expresses commitment to Eastern Mediterranean


News from EMGC 2013: Noble expresses commitment to Eastern Mediterranean


NICOSIA, Cyprus -- Chuck Davidson, chairman and CEO of Noble Energy, expressed his company’s “total commitment” to bringing low-cost energy to the Eastern Mediterranean region through continued exploration and production offshore Israel and Cyprus. Davidson reiterated his company’s stance in a keynote speech during the inaugural Eastern Mediterranean Gas Conference (EMGC), now underway in Cyprus.

John Royall, president of Gulf Publishing Company, the organizer of the event, welcomed more than 250 delegates from oil and gas sectors throughout the world to participate in a series of presentations and panel discussions on the technical and commercial aspects of monetizing the major gas discoveries in the region.

Houston-based Noble Energy, the leading E&P operator in the Eastern Mediterranean, is the host sponsor of EMGC 2013, with Cyprus-based Hyperion Systems Engineering Group serving as the gold sponsor.

“It has been a major voyage since the first well was drilled offshore Israel,” recalled Davidson. “At first, we thought our first major discovery, Mari-B, might be a ‘one-off’ success. Even the 1 Tcf reserves from Mari-B were big, when we had nothing in Israel.”

“After Mari-B, we had a string of dry holes,” explained Davidson. “But we love to explore. With continued exploration, we discovered 10 Tcf at Tamar and 18 Tcf at Leviathan, and 5 to 8 Tcf at Aphrodite, offshore Cyprus.”

Nicos Kouyialis, minister of agriculture, natural resources and environment, welcomed the delegates on behalf the Cypriot government, which is looking at the Aphfrodite gas discovery with high expectations to ease the country's financial crisis.

Joseph I. Paritzky, Israel’s former minister of energy and water resources, called for vision and collaboration for a better future for the Eastern Mediterranean nations.

EMGC 2013 continues to its third and final day on April 10 with additional presentations on the prospects of Cyprus as a LNG hub and the necessary infrastructure requirements.

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