30 Dec '11, 6pm

Cyprus Aims to Join Natural Gas Boom With Big Offshore Deposits

Cyprus Aims to Join Natural Gas Boom With Big Offshore Deposits

Noble Energy announced this week that a 40-square-mile area off the coast of the island nation of Cyprus may hold as much as 8 trillion cubic feet (tcf) of recoverable natural gas. The company drilled one well in water more than a mile deep, and reached a depth of nearly 20,000 feet. Just for the record, the Cyprus A-1 well sits about 500 feet deeper under water than the Macondo well that blew out in the Gulf of Mexico in 2010. The beginning of drilling several months ago predictably escalated tensions with Turkey, which still controls part of the island. Turkey has warned of naval intervention if Cyprus drills for the gas. The Mediterranean is quickly becoming an offshore drilling hotspot. Noble Energy also is developing offshore gas fields near Israel, another project that Turkey is not pleased about. There is offshore drilling near Egypt and Libya as well. In November, ...

Full article: http://spectrum.ieee.org/energywise/energy/fossil-fuels/c...

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