Cyprus says Eni, Total find ‘extensive strain’ of offshore gas

A consortium of Italy’s Eni and France’s Total has discovered an extensive strain of natural gas southwest of Cyprus. (Reuters)
Updated 08 February 2018
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Cyprus says Eni, Total find ‘extensive strain’ of offshore gas

ATHENS: A consortium of Italy’s Eni and France’s Total has discovered an extensive strain of natural gas southwest of Cyprus, Energy Minister Yiorgos Lakkotrypis said on Thursday.
“An extensive column of clean natural gas was discovered in various geographical formations,” Lakkotrypis told journalists.
Further analysis of data compiled from the Calypso well will be required to assess the quantity but the geology is similar to that of Egypt’s mammoth Zohr offshore field, he said.
“This is a particularly positive development because it is the second substantive discovery in the Cypriot EEZ (exclusive economic zone), which increases the reserves of Cyprus in natural gas,” Lakkotrypis said.
Calypso lies in block 6 of Cyprus’s offshore EEZ about 80 km from Zohr.
Discovered by Eni in 2015, Zohr contains an estimated 30 trillion cubic feet (tcf) of gas and is the largest gas find in the Mediterranean.
Cyprus made its first offshore discovery in 2011 with the Aphrodite field, which lies southeast of Cyprus and is thought to contain around 5 tcf of gas.


Disney again makes history with takings above $7bn for 2018

Updated 16 min 38 sec ago
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Disney again makes history with takings above $7bn for 2018

  • Box office gross marks second biggest year for Disney
  • Latest offering "Mary Poppins Returns" expected to dominate box office

LOS ANGELES: Walt Disney Studios is again ending the year on a high note, posting more than $7 billion in global box office earnings, thanks to hits such as "Black Panther" and "Avengers: Infinity War."
"This is only the second time in history any studio has surpassed the $7 billion mark, after Disney's own industry-record 2016 global gross of $7.6 billion," the company said in a statement on Monday.
"The Studios' estimated international box office gross through December 9 is an estimated $4.069 billion, marking our second biggest year and the third biggest in industry history," it added.
Disney's success comes as the studio is set to release "Mary Poppins Returns" on December 19, which is expected to top the box office during the holiday season.
"To date, four of the top eight worldwide releases of the year are from The Walt Disney Studios, including the top two global and top three domestic releases," the company said.
"Avengers: Infinity War," made by Disney's Marvel subsidiary, led the way, earning $2 billion alone. It is followed by superhero movie "Black Panther," which earned $1.35 billion worldwide.
"Incredibles 2," made by Pixar, another Disney subsidiary, earned $1.24 billion.
Other top box office earners for 2018 are "Ant-Man and The Wasp," "Solo: A Star Wars Story," and "Ralph Breaks the Internet," which has held the number one spot at the North American box office for the third consecutive week.