Gas reserve estimates at Cyprus' Aphrodite lowered to 4.1 tcf
JERUSALEM
0 COMMENTS
Dec 1 (Reuters) - The Israeli partners in a group drilling at Cyprus' offshore Aphrodite natural gas field said the estimated reserves there have dropped to 4.1 trillion cubic feet (tcf) from a previously estimated 5.2 tcf.
In a statement to the Tel Aviv Stock Exchange, Delek Drilling and Avner Oil Exploration, each with a 15 percent stake in the project, said the drop was mostly due to a decrease in the estimated thickness of the target layer.
Based on a report provided by consultants Netherland, Sewell & Associates, the statement also said there are significant" amounts of condensate - estimated to reach 8.1 million barrels. The group previously thought there were not commercial quantities of condensate at the field.
Texas-based Noble Energy leads the Aphrodite group with a 70 percent share.
Link to source: http://in.reuters.com/article/2013/12/01/cyprus-natgas-aphrodite-idINL5N0JG0GW20131201
