As an update to the exploration of the Island’s offshore deposits, the Cypriot President Dimitris Christofias claimed that the field could hold 5 to 8 trillion cubic feet of Natural Gas. The estimate is based on results returned by exploratory drilling by U.S. firm Noble Energy.
Some officials have said that 1 trillion cubic feet could meet the island’s energy needs for THIRTY YEARS!
Although it will increase tension with Turkey, it has already begun attracting attention from international investors.
More information as we get it. Heard of an update? Let us know in the comments below.
