Major Cypriot offshore gas field discovered - report

The Cypriot media has reported the discovery of a major natural gas field in Cypriot economic waters, 75 kilometers off the island's southern coast. The reservoir reportedly contains 170-230 BMC of gas, 70% as much as the Tamar reservoir in Israel's territorial waters. The reservoir, which is located in bloc 6 and is called Calypso, will be developed by a European consortium composed of Italian company Eni and French company Total SA.