| Cyprus gas field to produce 8 bcm a year with pipeline to Egypt | |
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JERUSALEM, June 7 (Reuters) - The Aphrodite natural gas field off Cyprus is commercially viable and plans call for producing 8 billion cubic metres (bcm) a year and construction of a pipeline to Egypt, the partners behind the project said on Sunday. Cyprus, which required an international bailout in 2013, is hoping for an economic turnaround based partly on offshore reserves. Texas-based Noble Energy and Israel's Delek Group discovered the deposit, estimated to hold 128 bcm of gas, in Cyprus's offshore Block 12 in 2011. It also contains 9 million barrels of condensate. Plans call for a floating production storage and offloading vessel (FPSO) to process 8 bcm of gas a year and the construction of underwater pipelines connecting the well to Cyprus and Egypt, Delek said in a statement. The planned Egyptian exports were made possible by a cooperation agreement the countries signed in February, Delek said, adding that the partners would submit their plans to the Cypriot government in the near future. Noble is the project operator with a 70 percent stake. Delek, through two subsidiaries, holds the remaining 30 percent, but is in early-stage talks to buy an additional 19.9 percent for about $155 million. Cyprus is seeking to develop its energy sector to bolster an economy that relies mostly on tourism, business services and shipping. The island has, for now, shelved plans to create its own liquefied natural gas terminal. (Reporting by Ari Rabinovitch; editing by Jason Neely)
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Noble Energy
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CODE : NBL |
ISIN : US6550441058 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Noble Energy is a and oil producing company based in United states of america. Noble Energy is listed in United States of America. Its market capitalisation is US$ 4.9 billions as of today (€ 4.1 billions). Its stock quote reached its highest recent level on May 09, 2008 at US$ 97.39, and its lowest recent point on August 31, 2020 at US$ 10.00. Noble Energy has 492 191 992 shares outstanding. |