Event Spotlights Energy Developments in the Eastern Mediterranean

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For its contribution to moving Cyprus and Israel closer to energy independence, the Cyprus U.S. Chamber of Commerce honors the Chairman and Chief Executive Officer of Noble Energy.

On May 4, the Cyprus U.S. Chamber of Commerce hosted its Annual Awards Gala on the Hilton New York. Each year, the Chamber honors corporations and individuals who raise the profile of Cyprus or who have made exceptional contributions to Cyprus-U.S. business relations. This year, the award was presented to Charles Davidson, chairman and CEO of Noble Energy – a company spearheading new offshore energy developments in the Mediterranean Sea.

Noble Energy has invested significantly in offshore drilling in Cyprus and Israel, providing reserves that will contribute to both nations’ efforts at energy independence. In addition to providing new energy resources for the Cypriot nation, the gas discoveries are expected to spark significant investment in the region in hydrocarbons infrastructure and to generate substantial revenue from gas sales.

Noble is the leading E&P operator in the Eastern Mediterranean, having discovered an estimated 35 Tcf of natural gas resources in the Levant Basin. These discoveries include an estimated gross mean of 7 Tcf offshore Cyprus.

Guests at the gala included members of Cypriot and U.S. business communities, global energy executives, and patrons and supporters of the Chamber such as Roys Poyiadjis and his wife Donna. Poyiadjis is a Greek Cypriot entrepreneur and financier who now lives in New York. As a child, Roys Poyiadjis and his family lived for two years in a refugee camp after Turkey’s invasion of Cyprus in 1974, and while he went on to achieve academic and business success in Britain and the U.S., his Cypriot roots are strong.

“For a small nation like Cyprus, the kinds of projects Mr. Davidson is leading can be transformative,” says Poyiadjis. “Noble Energy and its partners deserve a lot of credit for the offshore work they are doing in the Eastern Mediterranean.”

Prior to the dinner and ceremony, the Chamber hosted a panel discussion covering geopolitical and economic developments in Cyprus and the region, with presenters from PWC, Noble Energy, Abacus, Red Apple Group, and the U.S. Department of Commerce.

The Cyprus-U.S. Chamber of Commerce is a non-profit membership organization dedicated to promoting trade and investment between Cyprus and the United States and to fostering business opportunities and closer ties amongst its members and the greater business community in the United States.

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