Noble Lowers Cypriot Well Estimate, Moves Toward Israel

BMI Middle East and Africa Oil and Gas Insights

Thursday, December 01, 2011

U.S. independent Noble Energy has cut its gas-in-place estimate at its offshore Cypriot prospect.  Noble also upwardly revised its resource estimate for Israel's giant Tamar field, from 237 bcm to 254 bcm, and said that commissioning was on schedule for late 2012. The company pointed to further upside potential offshore Israel: 12 additional prospects have been identified with a gas potential of 566 bcm and a deep oil potential of 3.7bn bbl.

As noted on Nov. 15, Noble and its partners have started taking tentative steps towards the commercialization of Tamar's reserves through LNG exports. Further upside potential from the massive Leviathan discovery and new untested prospects represent significant upside to Israel's role in the regional gas market as well as for Noble's reserve base, not to mention its share price.

 

Reuters |SMART BRIEF

Israel should permit natural gas exports, drillers say November 29, 2011

Israel should permit exports from the its large natural gas fields to encourage more drilling and attract more players, said Lawson Freeman, Noble Energy's vice president for the Eastern Mediterranean. Israeli authorities have said they intend to obtain up to five decades of gas reserves before permitting exports. "We think there is a really compelling case for natural gas exports," Freeman said.

 

From my may 2011, post:

I believe Israel's oil discovery comes as a result of the Psalms 83 conflict that we are f-a-s-t approaching.

After Israel destroys Damascus Syria, they are wracked with guilt.

Israel's greatest weakness is its lack of a plan for Victory.

Energy independence?

Not a chance.

Israel was the first middle east nation to sign The European Neighbourhood Policy.

That's the same policy that will be used to Dictate their huge energy profits.
Daniel 9:27 And he shall confirm the covenant with many for one week.

Here is the Instrument the AntiMessiah uses:

UFM-

Cooperation in the Water sector

Union for the Mediterranean

and part of the European Neighborhood Policy

The Paris Summit for the Mediterranean inaugurated on July 13, 2008 the launch of the Union for the Mediterranean with 43 heads of states and Governments of Europe and the Mediterranean

it's been on hold, and needs confirmed: to make firm or firmer : strengthen <confirm one's resolve>

  give new assurance of the validity of.

From another May 2011, post:

The EU body that I think P.Charles fulfills his role in Daniel 7:verse 8, is called the European External Action Service.

The diplomatic service, responsible for implementing the EU's foreign policy and crisis management missions.

What crisis would that be in the Middle east?

A Psalms 83 War, that has just seen Damascus Syria destroyed.

The same war that King Abdullah II of Jordan is warning of right now.

EU Observer 10/10/11

Foreign-policy activities were among the most important and prestigious prerogatives of the rotating EU presidencies in the pre-Lisbon-Treaty era. The treaty ceded them mainly to the high representative and the European External Action Service (EEAS) and led to the marginalisation of the presidency in EU foreign policy.

Here's from my post in July 2011:

Are we approaching a United Nations Amendment where the United States votes against/(abstention) Israel?

ISRAEL: Natural gas deposits stir waters with Lebanon July 27,2011

A country can claim 200 nautical miles off its shores as its exclusive economic zone. In case of close neighbors and an overlap, an equidistant point must be found and agreed to establish such a zone. When Israel and Cyprus divvied up the waters between them, Cyprus said this didn't conflict with an agreement signed with Lebanon previously.

In the best of all worlds, Israel and Lebanon would reach an agreement in bilateral negotiations. That's still a while away, so, in the meantime, someone will have to decide.

The U.N. Interim Force in Lebanon has a marine contingent, but marking maritime borders is not within its mandate. Although reluctant to intervene, the United Nations may ultimately have to.

If unresolved, the dispute is likely to wind up before the International Tribunal for the Law of the Sea, established by a 1982 U.N. convention that has become customary law, including for countries that did not sign it, such as Israel.

Here's another post,

U.S. denies Hof visiting Beirut July 22, 2011

The Daily Star Lebanon

BEIRUT: The U.S. Embassy denied media reports Friday that Frederic Hof planned to visit Beirut to follow up on the Lebanon-Israel maritime borders dispute.

“It is entirely normal in the practice of international boundary-making that their claims differ,” the statement said. “Numerous countries have overlapping EEZ(Exclusive Economic Zone) claims, but almost nowhere is it a cause for conflict.”

“The United States has not and will not endorse either Israel or Lebanon's claim. We are not a party to this issue, which must be resolved diplomatically by the parties themselves,” Friday’s statement said.

The U.N. is said to be ready to intervene to resolve the maritime border issue, in order to allow each country to legitimately commence fossil fuel exploration.

Israel and Lebanon are technically in a state of war and do not have diplomatic relations.

Turkish Seismic Research Ship in Cyprus EEZ

Mon, 09/26/2011

Turkish seismic research ship K. Piri Reis is deep in Cyprus' Exclusive Economic Zone (EEZ) just off Pissouri and Kouklia, according to real-time tracking on MarineTraffic.com.

The ship has encroached on Block 1 of the EEZ, and has moved into the southern coast although it had been expected to only explore off the north coast of the island. This has raised new questions about just how far Turkey is willing to go in its attempt to claim rights over Cyprus' potential undersea gas-and-oil reserves.

‘We have rights on all sides of the island and we put forth that we can give the authority to any company in any region to explore natural gas’ said Turkish-Cypriot leader Dervis Eroglu.

Ankara threatened an arms build-up in the Eastern Mediterranean, saying that it would increase its naval presence, and rousing Greece, Israel, Russia and Cyprus to take a united defensive military position over the island's sovereign rights under the International Law of the Sea. Turkey has not signed this UN treaty, which sets out the conditions that each country can use to delimit its EEZ.

I posted back in July 2011,

The shift from U.S. to EU:

The European Role and the Aspirations of the Arab People 07/22/11

Catherine Ashton is competent and capable of charting a role for the European Union to play, one that would serve democratic aspirations and place Europe on the map as a political player and as a partner.

Biden visits Greece, Turkey at key moment in region

November 29, 2011

WASHINGTON (Reuters) - Vice President Joe Biden travels to Turkey this week amid deepening concern over Syria, before visiting a new Greek leader battling a debt crisis that could unravel the euro zone and sink the U.S. recovery.

Biden flies into Ankara on Thursday with a range of hot-button topics to discuss including the eight-month crackdown on pro-democracy protests in neighboring Syria and the future of Iraq after U.S. troops leave by the year's end.

Tony Blinken, Biden's top foreign policy adviser, said in addition to discussing the turmoil in Syria and Turkey's strained relations with Israel, the vice president would also talk about the fight against Kurdish PKK rebels, who he called a "common enemy" of Turkey and the United States.

"This summit really comes at a critical moment in the Middle East and North Africa. We've seen that millions of people have been calling out for not only political freedom but also economic opportunity," Blinken told reporters.

The Obama administration has placed a premium on close ties with Turkey -- a NATO member on a vital frontier between Europe, Asia and the Middle East -- and Biden's trip comes at a time of tumult in the region after the Arab Spring.

"There has been a sea change in U.S.-Turkish relations over the last eight or nine months that has been really remarkable," said Ross Wilson, director of the Atlantic Council's Dinu Patriciu Eurasia Center and former U.S. ambassador to Turkey.

"They are in sync on the Arab Awakening in general and especially on Syria ... in a dangerous region, their alliance with the United States looks much more important," he said.

Iraq will also be a key topic, with Washington hoping that Turkey's close diplomatic and economic ties with Iraqi Kurds will help to provide stability after U.S. troops have left.

GREECE

Biden will travel on Sunday to Athens, where he will deliver symbolically important support to Greece's new Prime Minister Lucas Papademos.

"The United States recognizes the sacrifices being made by the Greek people as they pursue this reform process," said White House economic adviser Mike Froman. But he made clear that Biden was not bringing additional financial support beyond the European Union/IMF package already in place.

Washington says the Europeans have the resources they need to shore up their banking system and bail out Greece, and protect Spain and Italy from speculative attack. So Biden will go to Athens with warm words but no actual resources.

"We have really no ability to change any of the dynamics of the debt crisis, or how the Europeans are going to resolve this one way or another," said Heather Conley, senior fellow at the Center for Strategic and International Studies. "So other than a lot of encouragement ... we just don't have a role here."

There are other issues to discuss, including Cyprus and the need to keep tensions in check around oil and gas exploration in the Eastern Mediterranean, where Cyprus plans to issue exploration licenses in defiance of Turkey. But the debt crisis is likely to dominate the visit.

Note:

All forms of natural renewable power are dependent upon prevailing weather conditions, and there will always be a degree of uncertainty. There will be days where the wind is unusually calm, and most places have a degree of cloud cover which can reduce solar power.

 

Check the Headlines, the Weather isn't cooperating.
Ships stranded, crops in jeopardy, power shortages as drought hits eastern Europe

December 2, 2011

A lack of rain has triggered the worst drought in decades for this time of year, dropping river levels to record lows and sounding an alarm in parts of central and eastern Europe.

Power supplies are running low in Serbia, drinking water shortages have hit Bosnia, and crop production is in jeopardy in Romania, Bulgaria and Hungary. The Czech Republic is at its driest since records began in 1775.  “This is a disaster,” said Branko Savic, the manager of a privately owned Danube shipping company.   About 80 big cargo ships are stranded at the Serbia-Hungary border on the Danube River, Europe’s second largest river, which winds 2,860-kilometer (1,777-mile) from Germany, passing through eight countries before flowing into the Black Sea.

Mid-Point - March 21st 2013

God Bless,

Gail