Noble Energy: Aphrodite gas field contains 3-9 trillion cubic feet

NOBLE Energy announced today that Block 12 in Cyprus exclusive economic zone has an estimated 3-9 trillion cubic feet (tcf) of natural gas, with a 60 per cent chance of geological success.

Cypriot officials, who had previously given preliminary and estimated assessments that the block contained 8 to 10 tcf, said they would wait for results once drilling concluded in early to mid-December.

“I am sure that the findings will be satisfactory to all,” a Cypriot energy official told Reuters.

Noble started drilling the offshore prospect south of Cyprus, which lies close to large discoveries off Israel, at the end of September.

Cyprus’ move to drill for gas angered its northern neighbouring and Turkey, which supports the breakaway Turkish Cypriot state in the north of the island.

Ankara disputes Nicosia’s right to explore for hydrocarbons, while the Cypriot government says it is within its sovereign rights.

Cypriot authorities will define in coming days plans to launch a new licensing round for offshore oil and gas exploration.

 

The Cyprus Mail is the only English-language daily newspaper published in Cyprus. It was established in 1945 and today, with its popular and widely-read website, the Cyprus Mail is among the most trusted news sites in Cyprus. The newspaper is not affiliated with any political parties and has always striven to maintain its independence. Over the past 70-plus years, the Cyprus Mail, with a small dedicated team, has covered momentous events in Cyprus’ modern history, chronicling the last gasps of British colonial rule, Cyprus’ truncated independence, the coup and Turkish invasion, and the decades of negotiations to stitch the divided island back together, plus a myriad of scandals, murders, and human interests stories that capture the island and its -people. Observers describe it as politically conservative.