Cyprus Sinai Levant exploration basin

Cyprus boasts huge undeveloped gas resources, but its potential has been hampered by complex market challenges. In the last two years, deepwater offshore Cyprus has been one of the shining lights in European exploration thanks to its giant gas discoveries. The potential of the Sinai - Levant Basin became apparent following the 2009 discovery and subsequent appraisal of the giant Tamar gas field in neighbouring Israel. Exploration drilling within the Sinai-Levant Basin has been non-existent for several years, and neighbouring basins look more likely to attract future exploration, following discoveries in recent years. The potential development of the Aphrodite discovery may encourage future drilling in years to come.