Tuesday, June 2, 2015

NEWS  |  Mighty Aphrodite: Offshore Cyprus  |  Rigzone

NEWS  |  Mighty Aphrodite: Offshore Cyprus  |  Rigzone: "The Aphrodite gas field located off the coast of Cyprus in the Mediterranean Sea represents a lucrative opportunity for the country, which has run into financial hardship over the last few years. Here, Rigzone takes a look at how the project is set to develop. Discovered in 2011 in Block 12 of Cyprus's Exclusive Economic Zone (EEZ), results from drilling evaluation work indicate that Aphrodite contains a mean estimate gross resource of about 4.5 trillion cubic feet (Tcf). The majority stake in Aphrodite is held by Texas, U.S.-based energy firm Noble Energy Inc., which controls a 70-percent portion of the find. Noble also drilled the initial Cyprus A-1 well at the site using the Noble Homer Ferrington (DW semisub). Delek Drilling and Avner Oil Exploration, both of which are subsidiaries of Israel's Delek Group, each hold 15 percent of Aphrodite."

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