Cyprus: Block 12 could have 'a lot more' gas, says expert

25 October, 14:09

(ANSAmed) - NICOSIA, OCTOBER 25 - Cyprus' off-shore Block 12 may carry potentially ''a lot more'' than the 7 trillion cubic feet (tcf) of natural gas originally estimated, said Noble Energy's country manager for Cyprus John Tomich yesterday, as Cyprus Mail reports. Houston-based Noble is the first and so far only company to win an offshore concession in Cyprus' exclusive economic zone, known as block 12, though bids are currently being evaluated by the government for the remaining blocks.

Exploratory drilling conducted by Noble revealed an estimated gross natural gas reserve of 5 to 8 tcf, with a gross mean of 7 Tcf. ''We made that nice discovery of 7 tcf but we think there is a lot more potentially there and we will be chasing additional gas fields,'' said Tomich, speaking at a press conference to announce Noble's hosting of the Eastern Mediterranean Gas Conference in Nicosia next March. Tomich said the company is right now focusing on the appraisal well to be conducted in the first or second quarter of 2013 depending on rig availability. He said Noble will be also searching for oil beneath the natural gas reservoir, noting however that the probability for oil is ''small but not zero''. ''Geologically there is no reason why the oil couldn't be there, it is just a matter of where, how much of it and how deep,'' he added.

(ANSAmed).

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