Block 12 «Aphrodite» is located outside the Southern Coast of Cyprus and within the Exclusive Economic Zone of the Republic of Cyprus. It shares borders with the Israelian Field Leviathan which is within the Exclusive Economic zone of Israel, and which is currently the largest Natural Gas source discovered in the last decade. 

All Facts lead to the conclusion that Block 12 «Aphrodite» situated just 34 km away from Leviathan, might hold similarly large quantities of Natural Gas.

Following the steps of the Republic of Cyprus towards the Natural Gas era:

12 December 1988:

Cyprus proceeds το the ratification of the UN Convention on the Law of the Sea

February 2003:

Cyprus signs an Agreement on the Delimitation of the Exclusive Economic Zone with Egypt

January 2007:

Cyprus signs an Agreement on the Delimitation of the Exclusive Economic Zone with Lebanon

16 February 2007:

Cyprus announced, the 1st Licensing Round Offshore Cyprus for the grant of Hydrocarbon Exploration Licences and subsequent Hydrocarbon Exploitation Licences (Blocks 6, 7 and 12).

Three major Companies applied, and their applications are reviewed especially in regards of their economical adequacy and their ability to carry out the required works on their own resources.

Finally, the Republic of Cyprus decided to proceed only with the Block 12 case.

October 2008:

The Republic of Cyprus grants permission to Noble Energy to explore Block 12 in order to determine whether it contains important and exploitable quantities of Natural Gas.

December 2010:

The Republic of Cyprus signs an Agreement on the Delimitation of the Exclusive Economic Zone with Israel 

August 2011:

The Republic of Cyprus signs a production-sharing agreement with Noble Energy regarding the Block 12's commercial development.

14 September 2011:

The semi-submersible Drilling Platform Noble Homer Ferrington departs from NOA Field (Israel) heading to the Drilling Point set in Block 12 (Cyprus).

16 September 2011:

The Drilling Platform Noble Homer Ferrington arrives and anchors at Block 12.

19 September 2011:

Noble Energy commences the exploratory drilling in Block 12.

December 2011 – February 2012:

According to Noble Energy, within 90 to 120 days from the initial exploratory drilling date, it is expected to have the actual results and an estimation of the quantity of Natural Gas in Block 12.

A new Licensing Round for the grant of Hydrocarbon Exploration Licences and subsequent Hydrocarbon Exploitation Licences is expected to begin soon and already major Companies have expressed interest and in some cases they even acquired seismic acquisitions in an attempt to identify the prospects which arise from such an investment.