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Gas estimates for Aphrodite field increased

Gas estimates for Aphrodite field increased

November 19
16:53 2014

Estimates for the amount of natural gas in the Aphrodite Bloc 12 reservoir have been increased by 14 billion cubic meters (BCM), ‘Famagusta Gazette’ reports.

Cyprus News Agency reports that Delek Drilling Limited and Avner Oil and Gas reported to the Tel Aviv Stock Exchange (TASE) that they had raised their estimate to 127 BCM of gas, up from 113 BCM, and nine million barrels of condensate, up from 8.1 million.

The estimated number of barrels of condensate (a liquid by-product of natural gas production that can be sold separately) has also been raised.

According to reports in the Israeli financial daily ‘Globe’, the increase resulted from an exchange of information between Israel and Cyprus, or more precisely, between the partnership in the adjacent Israeli Ishai prospect and the partnership in Aphrodite in Cyprus.

 

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