Cyprus' Aphrodite Holds 12% More Natural Gas Than Initially Predicted

The Israeli companies Delek and Avner, which together with the American company Noble have the exploitation rights for the Aphrodite plot (or Plot 12) of Cyprus’s Exclusive Economic Zone (EEZ), stated recently that the natural gas deposit in the plot is 12 percent larger than initially predicted. The companies, says a report from Greece's state run news agency, made the assertion in an announcement at the Tel Aviv stock exchange.

According to the revised estimate issued by the two companies, the deposit holds 4.54 trillion cubic feet of natural gas.

Delek and Avner add that their goal is to include the Aphrodite plot in wider plans for the exploitation of the Israeli ‘Leviathan’ deposit and that, given the small size of the Cypriot market, the bulk of the fuel will be sold on the international market.

Source: AMNA