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Exxon Mobil finds Cyprus's largest gas discovery to date

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Exxon Mobil finds Cyprus's largest gas discovery to date

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A logo of the Exxon Mobil Corp is seen at the Rio Oil and Gas Expo and Conference in Rio de Janeiro, Brazil September 24, 2018. REUTERS/Sergio Moraes

ATHENS (Reuters) - Exxon Mobil Corp has discovered natural gas off the coast of Cyprus, a find authorities said was the biggest off the Mediterranean island since it started drilling for gas in 2011.

Exxon said it had encountered a gas bearing reservoir at a well southwest of the island, which could potentially represent between 5 and 8 trillion cubic feet of gas.

“This is the biggest find so far in Cyprus, and based on some official data it is one of the biggest finds worldwide in the past two years,” Cypriot Energy Minister Yiorgos Lakkotrypis said.

Cyprus has one gas field, Aphrodite, which contains an estimated 4 trillion cubic feet of gas discovered to the south of the island in 2011.

“We are very encouraged by the results we’ve seen in the well,” said Tristan Aspray, Vice-President of Exxon Exploration for Europe, Russia and the Caspian.

Exxon owns a 60 percent stake in the block, known as Block 10, while Qatar Petroleum holds the rest.

“We will be spending the next several months analyzing all data we have gathered so we can better define the full commercial potential of the resource and map out the most appropriate path for a further appraisal,” he told journalists.

Last year Italy’s ENI and France’s Total said they had found a promising prospect of natural gas in a nearby concession, Calypso.

Perched on the maritime edge of two huge gas finds in the Levant Basin, Leviathan off Israel and Zohr off Egypt, Cyprus still relies on heavy and expensive fuel oil for its power stations.


Source :. https://www.reuters.com/article/us-...s-largest-gas-discovery-to-date-idUSKCN1QH1O3
 
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That is a LOT of gas. Very happy for our Cypriot brethren. :-)
 
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Congrats to Cyprus...

Lol, they alredy set Egypt free by appointing puppet Sisi as president. They don't need US army to do that.

Exxon Mobil finds Cyprus's largest gas discovery to date

940x940.jpg

A logo of the Exxon Mobil Corp is seen at the Rio Oil and Gas Expo and Conference in Rio de Janeiro, Brazil September 24, 2018. REUTERS/Sergio Moraes

ATHENS (Reuters) - Exxon Mobil Corp has discovered natural gas off the coast of Cyprus, a find authorities said was the biggest off the Mediterranean island since it started drilling for gas in 2011.

Exxon said it had encountered a gas bearing reservoir at a well southwest of the island, which could potentially represent between 5 and 8 trillion cubic feet of gas.

“This is the biggest find so far in Cyprus, and based on some official data it is one of the biggest finds worldwide in the past two years,” Cypriot Energy Minister Yiorgos Lakkotrypis said.

Cyprus has one gas field, Aphrodite, which contains an estimated 4 trillion cubic feet of gas discovered to the south of the island in 2011.

“We are very encouraged by the results we’ve seen in the well,” said Tristan Aspray, Vice-President of Exxon Exploration for Europe, Russia and the Caspian.

Exxon owns a 60 percent stake in the block, known as Block 10, while Qatar Petroleum holds the rest.

“We will be spending the next several months analyzing all data we have gathered so we can better define the full commercial potential of the resource and map out the most appropriate path for a further appraisal,” he told journalists.

Last year Italy’s ENI and France’s Total said they had found a promising prospect of natural gas in a nearby concession, Calypso.

Perched on the maritime edge of two huge gas finds in the Levant Basin, Leviathan off Israel and Zohr off Egypt, Cyprus still relies on heavy and expensive fuel oil for its power stations.


Source :. https://www.reuters.com/article/us-...s-largest-gas-discovery-to-date-idUSKCN1QH1O3

Good news. Now we can just go and drill next to them :D
 
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Lol, they alredy set Egypt free by appointing puppet Sisi as president. They don't need US army to do that.



Good news. Now we can just go and drill next to them :D

Couldnt find one with Cyprus written on it....but you understand the concept :enjoy:
 
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So who does it belong to Turkey or Greece as they both have a part of Cyprus
 
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So who does it belong to Turkey or Greece as they both have a part of Cyprus
Actually, Turkey say that Island should share it in half half but first Greeke side was against it and wanted to keep all the cake for themselves. After Turkey sending frigates and submarines, and putting in how serious they are about it, i believe they will agree in half and half as its better to get half instead risk a war and loose all or loose economy.
Half and half is a very good scenario and also will bring many investment as Turkey being against it, many companies will not risk lots of investment.
 
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