News Local Energy Minister to be informed about Calypso discovery within next couple of...

Energy Minister to be informed about Calypso discovery within next couple of weeks

Energy Minister Yiorgos Lakkotrypis said on Thursday that he expects to be informed about the discovery of natural gas resource in Block 6 Calypso target,  in Cyprus Exclusive Economic Zone (EEZ), within the next couple of weeks.

“During the next couple of weeks, I expect that they (the consortium) will present to me the data for the discovery in Calypso,” he noted.

As regards Block 10 Glaucus-1 target, the Minister said that based on the contract, “the consortium has 30 days to inform us about its intention, whether a confirmatory drilling needs to be undertaken, and after that they will tell us in three months when and where this will be done. Therefore, we still have some way ahead. When we have news, we will announce it,” he noted.

Energy giant ExxonMobil and Cyprus government announced last week a discovery of a natural gas resource of approximately 5 to 8 trillion cubic feet in Cyprus’ offshore block 10, at the Glaucus-1 well.

(Cyprus News Agency)

Read more:

https://in-cyprus.com/plot-10-natural-gas-find-has-estimated-value-of-30b-to-40b/

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