BorchWix Energy Advisors Limited (‘BWEA’) are pleased to announce the award of a two-year contract
for the provision of Oil and Gas Subsurface Advisory services to Cyprus Hydrocarbon Company Limited
(‘CHC’). The award follows the BWEA led Consortium winning an open competitive tender procedure.
BWEA will be working with Consortium partner company Badley Ashton & Associates Limited ‘BA’ to
deliver the wide-ranging contract scope which covers exploration, appraisal, and field development
The contract covers Expert Subsurface Advisory services in the following areas:
- Geological studies including basin evolution, play fairway analysis, depositional modelling, petroleum system analysis, static modelling, core/log interpretation.
- Petroleum engineering studies including well construction design, dynamic simulation, and production forecasting.
- Formation evaluation studies including open hole log evaluation, petrography, pressure, core, and fluid analysis.
- Geophysical studies including rock physics, synthetic modelling, seismic interpretation, velocity modelling.
- Resource evaluation and risking studies, including volumetric assessments, peer review, geological risking.
- Integrated asset studies including development concept evaluation and alternatives assessment.
Carsten Borch, BWEA’s Commercial & Technical Director and Project Lead of the BWEA-BA Consortium
commented; “The award of this contract demonstrates our Consortium’s strong technical capabilities
and unique Eastern Mediterranean experience.
Numerous deepwater natural gas discoveries* have been made in the Republic of Cyprus’ Exclusive
Economic Zone (‘EEZ’) and the Eastern Mediterranean area over the past decade. This new service
contract allows us to further build on our long-standing and excellent working relationship with CHC
during this exciting time for the Republic of Cyprus when Prospective and Contingent Resources are
actively being commercially matured towards development concept selection, project sanctioning and
ultimately Reserves exploitation.
We also very much look forward to working with BA and integrating their market-leading capabilities
into value adding projects for CHC.”
Meriem Bertouche, BA's CEO commented; “We look forward to providing best value services to CHC
and to working with our partners at BWEA.”
Demetris Fessas, CHC’s Acting Director General commented; “Making progress towards development
of its natural gas resources is a high priority for the Republic of Cyprus. We look forward to the support
of BWEA and BA as we constructively engage with our Licensees to progress our natural gas
discoveries towards monetization.”