Cyprus – Latest News for natural gas findings!
The second best deposit worldwide is that of Aphrodite
The finding of 7 trillion cubic feet of natural gas in Plot no.12 has overjoyed the Cyprus Government as the quantity is large and significant.
This is the second largest submarine deposit found in the last 10 years worldwide, after the Leviathan.
As the Head of the Group of experts of natural resources in Cyprus has explained in a recent TV interview in Cyprus, the reason that the NOBLE Company appears relatively modest, is not only for not being exposed but also because they may be ‘punished’ if they announce larger amounts than those eventually found.
The first estimates, he added, are always conservative, while the second ones, the so-called “evaluation”, are those that show the anatomy of the deposit and provide better, more accurate assessment.
In order to complete the procedure of the evaluation drilling, the Head of the Group of experts said that it would take much less time since the information from the first borehole is being used and consequently NOBLE Company proceeds no longer blindly.
The estimates for other plots are also positive, since there are similarities in the geology of the region and there are geological structures for the existence of hydrocarbons. This of course will and should attract even more investors.
“With American values it is calculated at 30 billion dollars”.
Cyprus Corporate Services Multilysis Services Limited
Cyprus Lawyers N. Pirilides & Associates LLC
Cyprus – Latest News for natural gas findings!
The second best deposit worldwide is that of Aphrodite
The finding of 7 trillion cubic feet of natural gas in Plot no.12 has overjoyed the Cyprus Government as the quantity is large and significant.
This is the second largest submarine deposit found in the last 10 years worldwide, after the Leviathan.
As the Head of the Group of experts of natural resources in Cyprus has explained in a recent TV interview in Cyprus, the reason that the NOBLE Company appears relatively modest, is not only for not being exposed but also because they may be ‘punished’ if they announce larger amounts than those eventually found.
The first estimates, he added, are always conservative, while the second ones, the so-called “evaluation”, are those that show the anatomy of the deposit and provide better, more accurate assessment.
In order to complete the procedure of the evaluation drilling, the Head of the Group of experts said that it would take much less time since the information from the first borehole is being used and consequently NOBLE Company proceeds no longer blindly.
The estimates for other plots are also positive, since there are similarities in the geology of the region and there are geological structures for the existence of hydrocarbons. This of course will and should attract even more investors.
“With American values it is calculated at 30 billion dollars”.
Cyprus Corporate Services Multilysis Services Limited
Cyprus Lawyers N. Pirilides & Associates LLC