CYPRUS: Minister of Energy announced the first ExxonMobil drilling on plot 10

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The Minister of Energy of the Republic of Cyprus, Natasa Pilides, stated in an interview that ExxonMobil’s drilling is scheduled for the end of next month to confirm how much natural gas is contained in a large deposit on the southwest coast of Cyprus will map out how the fuel will reach potential markets in Europe and Asia.

The minister said that drilling on plot 10 of the Cyprus EEZ, which is scheduled to begin in 6-8 weeks, will determine whether the field is at the highest or lower end of the estimated size of 142-227 billion cubic meters of natural gas.

Natasa Pilides stated that the transfer of natural gas by pipeline to Egyptian treatment plants where it will be liquefied to be transported by ships is currently the most likely option.
But he added that the construction of a treatment plant in Cyprus is not completely out of the picture depending on the total amount of natural gas off the island so that the project is economically feasible.

The Minister of Energy of Cyprus also stated that the joint venture of the French Total and the Italian Eni will start drilling in the first half of next year to determine the size of the deposit on plot 6.

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