Focus on Cyprus immigration and Cyprus economy hotspots: According to a report by the Cyprus Financial Mirror, on October 4, Noble Energy announced the drilling data of the first appraisal well. The latest assessment shows that the total natural gas reserves of the Cyprus offshore gas field are 3.6—6 trillion cubic feet, with an average of approximately 5 trillion cubic feet, which is lower than the previously assessed reserves of 5—8 trillion cubic feet, with an average of 7 trillion cubic feet.
The Minister of Energy, Commerce and Industry, Natasa Pilides, stated that the construction plan for the existing onshore liquefied natural gas plant will not change. This plant can regasify and export upstream products produced by Noble Energy and five other gas block companies, with an estimated total value of natural gas reaching 30 billion euros, and a net profit from gas exports of approximately 12-18 billion euros. She stated that although the latest assessed reserves are lower than previously expected, these reserves still rank third in the Eastern Mediterranean Levant Basin, including the Israeli gas fields.