Government sources told Wednesday CNA that Israeli demands regarding “Aphrodite” field in block 12 of Cyprus’ Exclusive Economic Zone are unreasonable.
As “Globes” reported Tuesday one of the owners of the rights in the Ishai license Opportunity Energy Resources (ISOP), wrote to Petroleum Commissioner Yosi Wurzburger and to Minister of National Infrastructures, Energy and Water Resources Yuval Steinitz claiming that the extraction of gas on the Cypriot side would lead to the extraction of gas from Ishai as well.
However, Israeli claims are in contrast with the fact that the same company had announced at the Tel Aviv Stock Exchange in 2013 that the drilling carried out in the Ishai deposit, which is on the Israeli side of the boundary between the two countries` economic zones very close to “Aphrodite”, showed negligible and non-recoverable quantities. The quantities discovered were only 0.6 trillion cubic feet, according to a Globes report.
“The claim, which is old, is unreasonable since they have officially admitted that the quantity discovered at Ishai is negligible and cannot be recovered”, a government source told CNA.
The demands were raised as the talks about the exploitation of “Aphrodite” field are at an advanced stage, as well as after reports that energy giant “Shell” wants to sign an agreement to buy 10 billion cubic meters of gas per year from “Aphrodite” and Israeli “Leviathan” for liquefaction purposes at the company`s terminal in Idku, Egypt, and then exporting it to other markets.
According to Globes the owners of the rights in Ishai, want to know “what future steps will be taken in order to safeguard Israel`s rights in Aphrodite, such that Cyprus will not be able to proceed with the signing of an agreement without approval from the State of Israel.”
Israel Opportunity chairman Rony Halman said, “An Israeli concession to Cyprus and further development of the Aphrodite reservoir that ignores Israel`s rights in it will represent a dangerous precedent that in the future will affect additional reservoirs in the Mediterranean basin that extends across the maritime borders between Israel and its neighbors. Such behavior will lead to a significant loss of state revenue.”
The Ministry of National Infrastructures, Energy and Water Resources stated in response, that “the position of the government of Israel is that development of the reservoir necessitates agreement between the parties on safeguarding the rights of both countries in the reservoir, and a dialogue is taking place with Cyprus on the matter.”