According to the head of Noble Energy on Cyprus, John Tomic, , Field 12 of the Cyprus Exclusive Economic Zone might contain more than 7 trillion cubic feet (tcf) of natural gas which had been previously detected.
“We made that nice discovery of 7 tcf but we think there is a lot more potentially there and we will be looking for additional gas fields,” said Noble Energy’s Cyprus manager John Tomich in a press conference.
He said an appraisal well would be drilled within the next eight months which would help make an exact estimate of the gas reserves according to Forbes.
An Eastern Mediterranean Gas Conference would be held in Cyprus on October 26-28, 2013, to discuss the energy potentials of the area, according to Tomich.
Meanwhile, Cyprus announced a new working partnership with Egypt meant to promote the sharing of expertise and experience between the two countries. According to comments from Egyptian Minister of Petroleum and Mineral Resources, Ossama Kamal, Cyprus made an appeal for guidance on how best to approach its new found oil and gas in the region, Forbes reported.
A Cypriot technical delegation is set to travel to Egypt next month, according to the Egypt Daily News.
Cyprus will soon launch the second licensing round for the remaining 12 offshore gas exploration blocks in its Exclusive Economic Zone, according to Xinhua new agency. It is said that 15 companies and joint ventures have bid for 9 of the 12 exploration blocks and their bids are now under evaluation.