ExxonMobil and QatarEnergy started drilling work for natural gas in Block 5 of Cyprus’ exclusive economic zone (EEZ), President Nikos Christodoulides announced on Friday.
According to a post on social media platform X, drilling began Friday morning in Block 5’s gas reservoir named Electra. “Cyprus is proceeding with research activities, aiming to become an alternative and reliable source of Natural Gas for the EU,” Christodoulides said.
Commencement of drilling this morning by @exxonmobil and @qatarenergy in Block 5 of Cyprus’ EEZ. Cyprus progresses exploration activities, aiming to be an alternative and reliable source of Natural Gas for the EU, 🇨🇾 pic.twitter.com/JoaDx3WM5R
— NikosChristodoulides (@Christodulides) January 24, 2025
Cyprus issued a Navtex on Sunday in relation to the start of drilling at the Electra field.
According to the Joint Rescue Coordination Centre (JRCC), the Navtex came into force on January 19 and will remain in force until June 19, 2025, with the drillship the Valaris DS-9 conducting the operations.
Cyprus gas drilling results expected soon
Energy Minister George Papanastasiou said the drilling results were expected to be known by the end of February and an official announcement would be made at the end of March, following an evaluation on the quantities of the deposit.
In November he described ExxonMobil’s decision to drill in the areas as a “milestone.”
“Depending on the findings . . . the company will decide how to commercialize this particular deposit, and we hope that the deposit will be something which will open horizons different from the usual ones,” he said.
ExxonMobil vice president for global exploration John Ardill said he had informed President Nikos Christodoulides about plans to drill both in block 5 and in block 10, which contains the Glaucus natural gas deposit.
“We’ve spent the last two years collecting very detailed, three-dimensional seismic data . . . We’ve identified several large prospects, and the next stage is to bring in a drilling rig and to test those,” he said, adding, “we’ll spud our first well in mid-January, so we are very excited about that.”
Chevron looks to drill in Greece
Cyprus’s offshore hydrocarbon potential has garnered increasing interest in recent years, driven by the discovery of significant reserves in the Eastern Mediterranean.
Earlier this week Greece announced that Chevron, the world’s second-largest private company active in the hydrocarbon sector, has expressed an interest in research in the marine area southwest of the Peloponnese and west of Crete.
In a statement, the Greek energy ministry said that it would issue a decision this week on the exact area of exploration and would launch an international tender soon.
“It is a very important development, part of our national strategy for energy independence and reducing energy costs,” the ministry said.
Related: New Deposits of Natural Gas Discovered Off Cyprus
See all the latest news from Greece and the world at Greekreporter.com. Contact our newsroom to report an update or send your story, photos and videos. Follow GR on Google News and subscribe here to our daily email!
