oil exploration .(cyprus )

baxi7


Joined: 23/09/2008
Posts: 130

Message Posted:
09/05/2009 13:27

is it not true - they are looking for oil in the waters around cyprus ? .

tommy13


Joined: 29/04/2009
Posts: 979

Message Posted:
09/05/2009 13:36

yes its true , theyve confirmed that the eastern med , around north and south cyprus has mauch untapped resources , another reason of many for trnc importance to turkey , this will be an iteresting one to watch for developments !!

canyavuz


Joined: 22/02/2009
Posts: 363

Message Posted:
09/05/2009 15:53

gc's have been exploring international waters between Turkey and the TRNC......but Turkish authorities have been stopping them.

tommy13


Joined: 29/04/2009
Posts: 979

Message Posted:
09/05/2009 16:45

libya and egypt and US have signed tenders to explore the region around cyprus with the ROC , Turkey is too , and many other outfits , i guess ur right in that they havnt as yet discovered it , but theses a highe possiblity they believe or they wouldnt search there , here is a link too one of many news esxperts about it , just search cyprus oil and youll see what i mean http://www.oilmarketer.co.uk/2007/08/17/companies-bid-for-cyprus-oil-exploration-licences/ so its not just talk aceshigh there is some truth and action on the matter

tommy13


Joined: 29/04/2009
Posts: 979

Message Posted:
09/05/2009 17:25

ok ace point taken , i hope their right though .... oil off TRNC , how interesting would that be

cypwine


Joined: 09/05/2009
Posts: 177

Message Posted:
09/05/2009 17:39

sorry to intervene here chaps but i thought the oil dig is between south cyprus & eygpt!!??

clayton


Joined: 30/11/2008
Posts: 1143

Message Posted:
09/05/2009 17:44

cypwine

that would be nice sat on a beach in southern cyprus looking out to sea at a load of oil rigs.

tommy13


Joined: 29/04/2009
Posts: 979

Message Posted:
09/05/2009 18:04

yes ur right cypwine , but turkey and trnc warned them not to cross the waters into trnc terrotory etc and there been lot of hoo ha brewing up about all this , its gone quite for a while though , aint heard nothing recently ..

CyprusChill


Joined: 08/05/2009
Posts: 666

Message Posted:
09/05/2009 18:25

Areas in question and blocks being shown vested interest in have been concluded by survey vessels. Lots of behind the scene hand shaking and appeasment going on, without a doubt. Should negate having to be 170 NE of Aberdeen. Similar situation off the west coast of ireland.

TheSaints



Joined: 28/01/2009
Posts: 1369

Message Posted:
09/05/2009 18:37

Msg 6

Aceshigh again commenting on something you know absolutely nothing about. Send a diver down?? you really are getting sillier by the posting.

Images are intepreted form satellites, seismic vessels survey the seas beds, seismics are interpreted for possible areas of interest, talks start, blocks drawn up, licensing bids/tenders commence, then exploration begins this takes years and for your information yes there is interest in oil and gas exploration in the med arpound the island of Cyprus.

Turkey if you don't already know has a very well established footing in the International Oil and Gas industry.

blackjock


Joined: 02/03/2009
Posts: 17

Message Posted:
09/05/2009 18:40

Aye,

There is little geological likelihood of there to be gas or oil close to Cyprus.

Cyprus was formed by subduction.

When subduction occurs, the geological faults resulting would have a very high probability of any pressured layers breaching to the fault, causing the loss of the pressure.

There are large amounts of gas in the Nile delta stretching almost to the sea border with Cyprus in water depths up to 800-900m or so, but the access to these area in the Cyprus waters is disputed by the UK as it potentially falls into water off the sovereign territories, and that I am afraid makes it British waters!..........in other words, the guffies are at it again!

blackjock

tommy13


Joined: 29/04/2009
Posts: 979

Message Posted:
09/05/2009 19:04

i wont argue any of the points above , saints and blackjock this ones urs it seems

TheSaints



Joined: 28/01/2009
Posts: 1369

Message Posted:
09/05/2009 19:45

Tommy,



there is no argument, several of my client companies over the last few years have been showing an interest in the med and as Blackjock will probably be aware, Oil and Gas has been found in areas where previously there was thought to be none, especially in these days of Deepwater Drilling and HPHT wells if it is there it will be brought to surface.

tommy13


Joined: 29/04/2009
Posts: 979

Message Posted:
09/05/2009 20:00

what i meant is i wont get into the debate if there is isnt , u guys seem to know your stuff better than me on this subject , yes saint thats how i know it , as you mentioned ... cool hope it comes gushing out on teh TRNC side

TheSaints



Joined: 28/01/2009
Posts: 1369

Message Posted:
09/05/2009 20:11

Having said that I am not a Rock Sniffer (Petroleum Geologist) I am on the Project management team side so I can not comment on the geology, but then again no one can say for certain, Seismics need to be shot and then they will have a better idea.

But in the never ending search for hydrocarbons it will be looked at as is everywhere else.

newlad



Joined: 02/03/2008
Posts: 7819

Message Posted:
09/05/2009 20:20

"cyprus was formed by subduction" i blame the gcs for that,lol this topic is way above me but carry on guys,

Paul.

Brinsley


Joined: 04/04/2009
Posts: 6858

Message Posted:
09/05/2009 20:31

I have taken sight of an oil Geology report of Cyprus and if there is anything it is between the 'Pan Handle' and Syria, sorry, only a retired executive of Burmah Castrol.



Richard

AlsancakJack



Joined: 14/08/2008
Posts: 5762

Message Posted:
09/05/2009 20:34

For what it is worth, my take on it all is this:

There were seismic surveys carried a few years ago in Med around Cyprus and although there were indicated deposits of hydrocarbons (as there are in most areas around the world, sea and land) It was not deemed viable to invest the millions of dollars needed to pull it out of the ground. The latest situation as far as I am aware is that exploration licenses were awarded (given) to one Egyptian company and the other I can't remember but there are no big players involved which indicates to me that they are marginal fields if indeed they exist at all. I also do not think that any test wells have been drilled yet because if they had and hydrocarbons had been found then the GC's would have been bleating about it. It will be a brave company that invests big money in the Med. Drilling technology has rapidly improved over the last 20 years but at the end of the day the deeper you drill then the more expensive it becomes.

AJ

AlsancakJack



Joined: 14/08/2008
Posts: 5762

Message Posted:
09/05/2009 20:45

Plus with the price of oil and gas at the moment I really do not think it is going to happen.

I saw on the news today that one Middle East country is mothballing some of its production platforms because it is costing them more to run than the revenue they are getting back.

Certainly not the time to be investing in marginal fields. It is one of the reasons the likes of BP have sold most of their UK assets because most fields in the North sea are now marginal fields.

AJ

Brinsley


Joined: 04/04/2009
Posts: 6858

Message Posted:
09/05/2009 20:47

AJ



Wrong, take sight of the independent report I've seen, the others are Greek sponsored ones, surprise, surprise!!



Richard

TheSaints



Joined: 28/01/2009
Posts: 1369

Message Posted:
09/05/2009 20:47

Like I said I am not a rock sniffer,

I have not seen any geo reports either Richard but only heard comments made in geo teams offices on two occaisions in different companies.

But then you will know what it is like in Exploration brain storming sessions lots of things get thrown around before they are thrown out or shelved.

Brinsley


Joined: 04/04/2009
Posts: 6858

Message Posted:
09/05/2009 20:51

Okay, you know better!



Richard

TheSaints



Joined: 28/01/2009
Posts: 1369

Message Posted:
09/05/2009 21:09

Richard,



I did not say that, I was actually conceeding to your comment, in that what I heard was just in brain storming sessions, nothing actioned.

TheSaints



Joined: 28/01/2009
Posts: 1369

Message Posted:
09/05/2009 21:20

AJ,



exploration is actually starting to pick up again in the Middle East in several regions, granted some wells are nearing end of production life but that is happening all over the world continuously and at some point a commercial decision has to be made on the viability of the well.

Being a contractor I have had quite a few enquiries over the last few weeks most for new exploration projects and also the redevelopement of existing fields.

Iran has been on about stopping all exports for ages now as they want a min $100 per bbl.

over $50 per bbl most of the majors still see exploration as a necessity.

None of them around Cyprus though ;-)

Jetski


Joined: 21/07/2008
Posts: 584

Message Posted:
09/05/2009 21:41

Most likely area is around the Eratoshenes sea mount - cheaper drilling- but still fairly tectonic so risky. An it's also in the area south of Limmasol, so no benefit to the TRNC. Unlikely to be anything economic between Turkey and TRNC bearing in mind the variable depth (up to 4000m)

Brinsley


Joined: 04/04/2009
Posts: 6858

Message Posted:
09/05/2009 21:46

Okay, there is no oil/gas between South Cyprus and Egypt however, there is a possibility that there maybe something from the Kapas to Syria. It as another Greek propaganda plot to suggest otherwise!



Richard

rowlo



Joined: 12/10/2008
Posts: 4796

Message Posted:
09/05/2009 22:41

well brinsley, look at all the new names around since the crash ?? what do you think ??

TheSaints



Joined: 28/01/2009
Posts: 1369

Message Posted:
09/05/2009 22:52

More than qualified to comment on your nonsense posts.

rowlo



Joined: 12/10/2008
Posts: 4796

Message Posted:
09/05/2009 23:00

chill saints , its only firestarter and co ,

AlsancakJack



Joined: 14/08/2008
Posts: 5762

Message Posted:
09/05/2009 23:01

aceshigh

'BTW I was talking about sending down four skin divers.'

Met a few of those in Azerbaijan and that was on dry land.

Brinsley


Joined: 04/04/2009
Posts: 6858

Message Posted:
10/05/2009 00:39

AJ



Just wrote an email apology to you which I hope you received and accepted however, not quite making it to the main board of Burmah Castrol I do have just a little knowledge in this field. BP having taken control of Castrol and hope they don't do the same as they did to the other major lubricating company they bought and destroyed!



Richard