Offshore staff

HOUSTON -- Noble Energy has discovered potentially large volumes of gas with a well in the greater Levant basin offshore Cyprus.

The Cyprus A-1 well in block 12 encountered around 310 ft (94.5 m) of gas pay in multiple Miocene sand intervals. It was drilled to a depth of 19,225 ft (5,856 m) in a water depth of around 5,540 ft (1,688 m).

Analysis of drilling, formation logs and initial evaluation suggest reserves in the range 5-8 tcf, with a gross mean of 7 tcf.

The Cyprus block 12 field covers 40 sq mi (103 sq km). Noble adds that further appraisal drilling will be needed prior to development.

Noble has a 70% operating interest, with Israeli companies Delek Drilling and Avner Oil Exploration owning 15% each, subject to approval from the Cyrpiot authorities.

12/28/2011