Another Milestone Along Cyprus's Path To Renewed Prosperity

Noble Energy has announced today that the appraisal well drilled on the Block 12 discovery offshore Cyprus has successfully encountered natural gas pay within the targeted strata. Evaluation of the test data has resulted in an updated estimate of gross resources of the field ranging from 3.6 trillion cubic feet (Tcf) of natural gas to 6 Tcf, with a mean of approximately 5 Tcf. The Cyprus A structure represents the third largest field discovered to date within the Deepwater Levant Basin.

While the revised mean gross resources of the field are somewhat lower than initial estimates, Noble's statement emphasised that the test results confirm substantial natural gas resources and good deliverability.