Re­sults from drilling in block 11 ex­pected in Septem­ber

Financial Mirror (Cyprus) - - FRONT PAGE -

The re­sults from ex­ploratory nat­u­ral gas drilling in Block 11 of the Cyprus off­shore ex­clu­sive eco­nomic zone (EEZ) is ex­pected in Septem­ber, wit the next few months ex­pected to be a pe­riod of de­vel­op­ments in Cyprus’ en­ergy sec­tor, ac­cord­ing to gov­ern­ment of­fi­cials.

The state-con­trolled Cyprus News Agency quoted sources as say­ing that the com­pa­nies which have se­cured ex­plo­ration li­cences within Cyprus’ EEZ con­tinue their plan­ning.

Mean­while, ac­cord­ing to the same sources, the EastMed pipeline, which as­pires to con­nect Is­rael, Cyprus, Greece and Italy, will be the fo­cus of a four-party min­is­te­rial meet­ing on De­cem­ber 5 in Ni­cosia, dur­ing which a mem­o­ran­dum of un­der­stand­ing is ex­pected to be signed.

The West Capella drill is con­tin­u­ing its work in block 11. The sources noted that the re­sults of this drilling op­er­a­tion will be an­nounced in Septem­ber.

Re­gard­ing fur­ther plan­ning by Ital­ian ENI, it ap­pears that no de­ci­sion has yet been taken as to which block it will drill in – 3, 4, or 8. The sources said that the most im­por­tant fac­tor to be taken into con­sid­er­a­tion is the re­sult of the three­d­i­men­sional ex­plo­rations be­ing held un­til re­cently, which are now be­ing pro­cessed.

Fur­ther­more, on Septem­ber 6, Exxon Mo­bil, li­censed for block 10, will hold a press con­fer­ence in Ni­cosia on its in­ter­na­tional en­ergy prospects and the com­pany’s ex­plo­ration sched­ule in Cyprus’ EEZ.

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