Bloomberg the Company

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Follow Us

Industry Products

Cyprus May Have 60 Trillion Cubic Feet of Gas, Kretyk Head Says

Don't Miss Out —
Follow us on:

March 15 (Bloomberg) -- Cyprus’s natural gas reserves in its territorial waters could be as much as 60 trillion cubic feet, the head of the country’s state hydrocarbons company said.

The country has already granted licenses for exploratory drilling in six blocks that could contain as much as 40 trillion cubic feet of natural gas, according to Charalambos Ellinas, chairman of Kretyk, as the company is known, in Nicosia today.

Noble Energy Inc. will begin exploratory drilling in block 12 of the Economic Exclusion Zone, which has reserves of as much as 8 trillion cubic feet, in the third quarter, Commerce and Industry Minister George Lakkotrypis said on March 13.

Cyprus has so far given gas exploration licenses to Noble, Total SA and a venture of Eni SpA and Korea Gas Corp.

To contact the reporter on this story: Georgios Georgiou in Athens at ggeorgiou5@bloomberg.net

To contact the editor responsible for this story: Maria Petrakis at mpetrakis@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.