ATHENS - Following four years of exploration, Cyprus’ Energy Ministry said on June 7 that offshore reserves in the Mediterranean island’s Aphrodite gas field have been pronounced commercially exploitable.

Houston-based Noble Energy made the first find off the southeast coast in 2011 in the Aphrodite field (Block 12), which is estimated to contain around 127.4 billion cubic metres (bcm) of gas. Israeli firms Delek and Avner have a 30% stake in the venture.

“Noble Energy International, Delek...

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