Cyprus says small gas deposit found but hopeful of more

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Cyprus says small gas deposit found but hopeful...
 © Parikiaki 2017

Cyprus’s energy minister says exploratory drilling off the island’s southern coast has discovered a small gas deposit that contains “less than” 0.5 trillion cubic feet of the hydrocarbon, not enough to make it commercially viable.

But Yiorgos Lakkotrypis said Tuesday the fact that gas was discovered in an area whose geological make-up is similar to that off Egypt where a huge discovery was made recently offers “encouraging signs” that more could be found.

Drilling was conducted by a consortium made up of French energy company Total and Italy’s Eni. Other major...


Cyprus says small gas deposit found but hopeful of more


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