Nobel Energy Company announced the drilling as significant for Cyprus

US based Nobel Energy Company announced the exploration results as ‘significant’. In a press report Nobel Energy says, “the Cyprus A-1 well encountered approximately 310 feet of net natural gas pay in multiple high-quality Miocene sand intervals.''

 

The company drilled at the depth of 19,225 feet in water depth of about 5,540 feet. Results from drilling, formation logs and initial evaluation work indicate an estimated gross resource range(1) of 5 to 8 trillion cubic feet (Tcf), with a gross mean of 7 Tcf,'' Nobles added, noting that ''the Cyprus Block 12 field covers approximately 40 square miles and will require additional appraisal drilling prior to development.''


Charles D. Davidson, Noble Energy's Chairman and CEO, said that this discovery of natural gas has highlighted the importance of this World Class basin. He thanked Greek Cyprus government for their cooperation and support

29.12.2011

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