Last updated: October 03. 2013 9:36AM - 145 Views
Associated Press

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(AP) Cyprus' energy minister says that a gas field off the country's southern coast contains between 3.6 and 5 trillion cubic feet (0.1-0.14 trillion cubic meters) of natural gas, noticeably less than an earlier estimate.

But Yiorgos Lakkotrypis says that the bailed-out country's plans to build a gas processing facility to export excess supply remains on track amid good prospects of future gas finds inside Cypriot waters.

Lakkotrypis said Thursday a second appraisal well to specify gas quantities in the field will be needed which may cause delays in building the processing facility, but authorities are striving to avoid that.

A 2011 estimate put the size of the field being developed by U.S. firm Noble Energy Inc. and its Israeli partners Delek and Avner at 5-8 trillion cubic feet.

Associated Press
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