Large Natural Gas Reserves Discovered in Cyprus Offshore

Large Natural Gas Reserves Discovered in Cyprus Offshore

Nicosia : Cyprus | Dec 29, 2011 at 2:26 AM PST
Views: Pending
Turkey's hydrocarbon threats against Cyprus - grounds for recourse to UN Security Council

Noble Company announced the discovery earlier this year in block 12, about 180 km off the coast, and the government of Cyprus decided to continue drilling despite strong objections from Turkey.

President Demetris Christofias, who face strong pressure to resign last summer in the blast munitions that destroy vital power plant nearby, made the announcement live on television on Wednesday.

Preliminary data emerging from the exploration and evaluation drilling, indicating the presence of natural gas reserves of 140 billion cubic meters to 224 billion cubic meters.

AFP news agency reported, although the amount was less than previous government estimates, around 283 billion cubic meters, more recent estimates that, if true, could meet the gas needs of the island country for decades.

President Christofias said that "the utilization of natural gas could be a solution for problems faced by Cyprus, which could end the illegal occupation, unite the country ... and restoring human rights and freedom of the people of Cyprus, including citizens of Greek descent and Turkish Cyprus.

Cyprus has been divided since 1974, when Turkish troops invaded and controlled the north of the island following a coup designed to unite Greece and Greek Cyprus.

In contrast to the whole international community, Turkey does not recognize the Cyprus government.

Noble Company won a tender exploration of oil mining in Cyprus in 2008.Since then Turkey has strongly protested the search for oil and natural gas offshore activities and called it "illegitimate"

Earlier, President Christofias said the discovery of gas would be a tool that will reconcile the region.


1 of 1
Large Natural Gas Reserves Discovered in Cyprus Offshore
Large Natural Gas Reserves Discovered in Cyprus OffshoreReuters
mamubilla is based in Karāchi, Sind, Pakistan, and is a Stringer on Allvoices.
Report Credibility
  • Clear
  • Share:
  • Share
  • Clear
  • Clear
  • Clear
  • Clear

News Stories

  • Cyprus: Offshore gas find gets investor interest

    Dimitris Christofias said the offshore discovery puts Cyprus on Europe's energy map and is attracting the interest of many foreign investors. But it could also risk heightening tensions with rival Turkey, which doesn't recognize Cyprus as a sovereign...
  • Cyprus: Offshore gas find gets investor interest

      AP Online
    Cyprus (AP) — A field off Cyprus where U.S. firm Noble Energy is conducting exploratory drilling holds an estimated 5-8 trillion cubic feet (140-230 billion cubic meters) of natural gas, a significant find for the small island, the country's...
  • Cyprus: Field holds 5-8 trillion cubic feet of gas

      Yedioth Ahronoth
    Breaking News The president of Cyprus says a field off the island's south coast where US firm Noble Energy is conducting exploratory drilling is estimated to hold 5 trillion to 8 trillion cubic feet of natural gas.   Wednesday's announcement was the...
  • Noble Energy Discovers Natural Gas Off Republic of Cyprus

      International Business Times
    Articles The Cyprus A-1 well encountered approximately 310 feet of net natural gas pay in multiple high-quality Miocene sand intervals. The discovery well was drilled to a depth of 19,225 feet in water depth of about 5,540 feet. Results from drilling,...
  • Turkey Approves Construction of South Stream Gas Pipeline

      International Business Times
    Articles Gazprom, the huge Russia n gas exporter, will own 50 percent of the pipeline, providing it with direct access to the dynamic energy markets of Europe. The remaining shares in the project will be owned by Italy's Eni S.p.A. (20 percent) and...
  • Major gas find reported off Cyprus coast

      United Press International
    U.S. company Noble Energy reported a major natural gas find off the coast of Cyprus, where reserve estimates could reach 7 trillion cubic feet. Charles Davidson, chairman and chief executive officer at Noble Energy, said the latest find off the coast...





More From Allvoices

Report Your News Got a similar story?
Add it to the network!

Or add related content to this report

Most Commented Reports

Use of this site is governed by our Terms of Use Agreement and Privacy Policy.

© Allvoices, Inc. 2008-2014. All rights reserved. Powered by PulsePoint.