11130 - New data regarding the Aphrodite reserve.

With H. Konofagos, N. Lygeros
Translated from the Greek by Athina Kehagias

As we know, the Aphrodite reserve is situated right upon the demarcation line of the EEZ of Cyprus and Israel. Therefore, due to the agreement, there is a 50% – 50% joint exploitation context, wherever the drilling may be located upon the Aphrodite reserve. The first drilling which occurred by the American company Noble in December 2011 proved that there is a large amount of natural gas. And now we are waiting for the second drilling of the same company in the first quarter of 2013. Meantime, we have new results from the AGR company, which did a second drilling within the Aphrodite Reserve, at point A2 which is in the EEZ of Israel. The announcement took place in Oslo on the 03/01/2013, as the drilling reached its target on 02/01/2013. The drilling depth is 5652 meters below the sea, which includes 1707 meters of seawater column. During the drilling, many elements and stigmas were found which prove the presence of hydrocarbons and natural gas ones at that. Now with the additional analysis which occurred at 5187 meters below the sea, we now have a confirmation of the data we had during the tests period, which are electrical, magnetic and seismic but of course also through radioactivity. Lithological tests were also performed and the composition and pressure of the gases and liquids found in this new phase were analyzed. The AGR company now explains in a clear and direct manner that natural gas has been found in this drilling as well. In other words, regarding the same reserve, we now have two drillings in each EEZ which touches upon the Aphrodite reserve, that prove that the entire structure contains natural gas at points A1 and A2, even before moving on to the second drilling from the side of the Cypriot EEZ. We have therefore new scientific and analytical data, which are not theoretical estimates. Consequently, whatever were the accusations and reservations against the choice of Tassos Papadopoulos’ high strategy, they now belong to the past and we have entered a new phase as far as the data concerning Cyprus. It would be good therefore for us to draw our own conclusions so as not to waste any extra time with rhetorical questions which have no scientific character. Let’s here in Greece also move onto the next stage in order to take advantage as soon as possible and to become prepared with our know-how, but also with additional research studies and analyzes for the next stage, which is the delimitation of the Greek EEZ into blocks just like Cyprus has done, so as to move on to the licensing and, of course, the concession rounds, which are the beginning of the exploitation in another order of magnitude, since the amounts of the bonus signatures are entering immediately. Cyprus tangibly shows the example, so we now have the responsibility hereon to follow it, in order to in actual fact help the economic situation of our homeland.