Insight
Cyprus 2016 3rd licensing round launch
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Cyprus is offering three large, undrilled deepwater blocks on-trend with recent giant gas discoveries in Cyprus, Israel and Egypt. The authorities are looking to capitalise on Eni’s play-opening Zohr discovery, which will draw companies to the multi-tcf potential that could exist in other Miocene Carbonate structures in Cypriot waters. Despite the tempting prospectivity, the fiscal terms will need to take into account the commercialisation challenges. There is no existing infrastructure or meaningful local gas market that would allow the swift monetisation of any discovery. Value creation will be heavily dependent on securing access to export markets. Cost recovery and profit share are the two items that will primarily dictate government share, but the size of signature bonus will be the most public indication of interest in the acreage. But with few able offer large short-term financial commitments, this could lead to some aggressive bidding on the profit-based fiscal terms.
Table of contents
- High hopes from recent big gas finds, but market access will be crucial
- Acreage on offer
-
Terms and conditions
- Timeline
- Data
- Evaluation process
- Prospectivity analysis
-
Economic analysis
- Fiscal regime
- Big gas required to create value
- Round expectations
-
Appendix
- Development assumptions
- Price assumptions
Tables and charts
This report includes the following images and tables:
-
Criteria for successThree blocks on offer in deepwater CyprusSummary of offered acreage
-
Neighbouring discoveriesExploration history of relevant blocksTimeline: 300 daysData availabilityBiddable parametersFiscal benchmarking of comparable termsRound 2 terms under different gas pricesPotential 4.5 tcf discovery on Block 8 - IRRPotential 9 tcf discovery on Block 10 - IRR
- 1 more item(s)...
What's included
This report contains:
Other reports you may be interested in
Asset Report
Block 65
Block 65 is located in northwest Oman, adjacent to Occidental's Block 27 and Daleel Petroleum's Block 5. The block was offered ...
$3,720
Asset Report
Urdaneta Oeste
Urdaneta Oeste was originally offered to the private sector during PDVSA's Second Marginal Fields licensing round in 1993. This ...
$3,720
Insight
Nigeria offers 50 blocks in 2025 bid round: spotlight on discovered resource opportunities
Nigeria launched its 2025 licensing round on 1 December, marking the country’s third bid round since 2022.
$1,350
