UK firm buys stake in Cyprus gas field for $165m

UK energy firm BG Group has bought a 35% stake in an offshore gas field in Cyprus. The firm agreed a purchase worth $165 million (£107.3m) with Noble Energy. The acquisition includes the newly discovered Aphrodite gas field which has natural gas resources of approximately four trillion cubic feet, according to Noble Energy. The transaction is […]

Israel’s first offshore gas production

Israel started pumping its first offshore natural gas in a move it hopes will help boost the nation’s economy and increase energy security. Located in the Mediterranean Sea, gas started flowing in from the Tamar offshore field into the Israeli port of Ashdod. The project is believed to be the largest privately funded infrastructure project […]

Noble announce Cyprus gas discovery

Independent gas and oil company Noble Energy has announced further gas discoveries off the coast of Cyprus, after encountering around 310 feet of natural gas. The Cyprus A-1 well was drilled to a depth of 19,225 feet in water depth of about 5,540 feet. Results from Noble Energy indicate an estimated gross resource of 5 […]

US energy firm puts $3.2bn into Marcellus Shale site

American firm Noble Energy is investing $3.2billion in a natural gas site in Pennsylvania and West Virginia owned by CONSOL Energy. The firm has signed for a 50% stake of the venture with CONSOL, the leading natural gas producer in the eastern United States, in the Marcellus Shale which could create work for more than […]

US greenlights first Gulf of Mexico drilling since BP disaster

The US government yesterday awarded its first permit for deepwater drilling in the Gulf of Mexico since the BP oil disaster last year. Noble Energy has received to go-ahead to resume drilling at the Santiago prospect in the deepwater Gulf of Mexico. Operations were suspended in June last year following the explosion on the BP-leased […]