Cyprus: new gas deposit too small to exploit, hopes for more
September 13, 2017
NICOSIA, Cyprus (AP) — A gas field discovered off Cyprus that contains "less than" 0.5 trillion cubic feet of the hydrocarbon is too small to make it commercially viable on its own, Cyprus' energy minister said Tuesday.
But Yiorgos Lakkotrypis said the fact that gas was found in an area whose geological make-up is similar to that where a huge discovery was made off Egypt offers "encouraging signs" that more could be found in Cypriot waters.
"We're not disappointed with this drilling," Lakkotrypis told reporters. "It leaves us optimistic for the future."
Exploratory drilling at the "Onisif...