Production test for natural gas in block 12 to begin today

In statements to CNA, President of the Cyprus National Hydrocarbons Company, Charalambos Ellinas, said that the drill stem test will test the pressure and quality of block 12.

He said that the results of the test should be ready in the coming weeks.

Ellinas did not rule out the possibility that a second confirmatory drilling takes place at a later stage.

On August 22nd, 2013, Noble Energy partners in Cyprus` block 12, Delek Drilling and Avner, announced that a decision to perform a production test, the so-called drill stem test, at Aphrodite A-2, located in Block 12 in Cyprus` EEZ has been approved.

The estimated budget for the production tests (100%) is approximately USD 64 million.

Production tests are expected to last for approximately a month.

A drill stem test (DST) is a procedure for and testing the pressure, quality and productive capacity of a geological formation during the drilling of a well.

Exploratory drilling carried out by Noble energy in 2011 revealed an estimated resource of 5 trillion cubic feet (tcf) to 8 tcf, with a mean of 7 tcf. Noble Energy began an appraisal well last June, with results expected late September.

Noble Energy operates Block 12 with a 70 percent working interest. Delek Drilling Limited Partnership and Avner Oil Exploration Limited Partnership each own 15 percent.