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Cyprus Block 12 Characterized as "World Class" Gas Field

Noble Energy’s Vice President Terry Gerhart described the natural gas field of Block 12 in Cyprus EEZ as “world class, and of very large accumulation”.
Mr. Gerhart had a meeting earlier on Thursday with President Christofias, in which the latter was informed on the progress of the drilling in Block 12.
“Everyone is aware we drilled a successful well and made an announcement at the end of the year. Somewhere between 5 and 8 trillion cubic feet of gas were found and we look forward to bringing it to reality for the Cypriot market” said Mr. Gerhart.
In his statement following the meeting, Noble Energy’s Vice President added that analyzing all data will take some time.
When asked about the possibility of building a natural gas terminal and pipeline ashore, Mr. Gerhart said that the company is examining the scenario both in terms of providing gas to the Cypriot market and exporting it.
Mr. Gerhart mentioned that there are some 100 km2 left to be analyzed and should there emerge satisfying data in the future explorations, then the company will participate in the next round of drilling procedures.

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