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Noble Energy will begin drilling for natural gas

07.06.2013

Noble Energy will begin drilling for natural gas at a new appraisal well off Cyprus on 07.06.2013

The American company, which reported a natural gas discovery of 5-8 trillion cubic feet southeast of the island in 2011, is conducting the appraisal to quantify and confirm the earlier find.

Cyprus, which received an international financial bailout earlier this year, is keen to develop untapped offshore gas reserves to power future economic growth.

Noble has rights over one offshore block south of Cyprus. France's Total and Italy's ENI, which have rights over other blocks, plan to drill for hydrocarbons by 2015.

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