InsiderEconomyCyprus drilling programme to resume in November – December

Cyprus drilling programme to resume in November – December

Cyprus drilling programme will resume in November – December with oil major ExxonMobil expected to drill in block 10, Minister of Energy, Commerce and Industry Natasa Pilides has said.

Speaking to the press after briefing the parliamentary committee on Energy on Cyprus’ energy programme, Pilides said the Ministry has worked intensively with ExxonMobil which is the first company to proceed with drilling in block 10 by the end of the year following the disruption of the Covid-19 pandemic.

She said the company has hired a drilling vessel and the authorities are in the process of issuing the necessary licenses, while experts from the US and other countries started arriving in Cyprus to take part in the drilling process.

“We are on track and we hope there will be no surprises associated with the pandemic. We expect in the period of November – December the latest the drilling programme will resume followed by ENI TOTAL with which consultations are underway,” Pilides added.

In 2019 the joint venture of ExxonMobil/Qatar Petroleum drilled an exploration well in block 10, leading to the discovery of Glaucus field, with is estimated to hold a quantity of 5 to 8 trillion cubic feet (tcf).

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