Cyprus Oil and Gas Industry Set to Receive a Tremendous Boost
In a move that could help turn the Mediterranean region into a significant hub for gas production, plus create hundreds of new jobs for the island's on and off-shore workers, Royal Dutch Shell Plc is looking to process natural gas from Cyprus and Israel. Sources report that Shell is undergoing negotiations to combine the output of Cyprus' Aphrodite gas reserves with natural gas from Israel, and to forward it further to an Egyptian LNG plant.
Recent gas finds off Cyprus, Israel and Lebanon, along with
Egypt's massive Zohr field, could prove to be the first steps towards creating
a hugely profitable gas production centre right on Europe’s front door. And
combining the output from gas fields which share major investors, has excellent
potential to improve the ROI of the joint venture.
The transport of natural gas to Egypt is a steadfast goal
for the Cyprus government, and plans have already been submitted towards
achieving that goal. When approved, the proposals will see the transport of gas
from the Leviathan field to Cyprus, the addition of natural gas from the
island, and the subsequent forwarding and delivery to Egypt.
Direct Israeli imports to Egyptian companies have eased the
current situation, and the government considers the plan to be an essential
step in Cyprus’ exposure to global gas markets.
In 2011, the US company Noble Energy discovered an estimated
4.5 trillion cubic feet of natural gas in Cyprus' offshore Aphrodite field, and
in a recent announcement, the American energy giant ExxonMobil aired plans to
further explore sea regions southwest of the island in the second half of 2018.
The news comes as a breath of fresh air to anyone looking for on or offshore work in Cyprus' natural gas industry. Demand for skilled and non-skilled workers will rise dramatically, and the increased employment levels can be expected to boost the island's overall economy. If you're seeking work in the oil and natural gas sector, then be sure to check out our job listings at www.job-cy.com. We bring you the latest jobs with regular updates, along with all the information you need to get hired fast.