ExxonMobil’s Vice President Don Bagley on Wednesday discussed with ministers in Nicosia their plan for an appraisal drilling for “Glaucus” gas deposit in Block 10 within Cyprus’ Exclusive Economic Zone (EEZ).
Bagley flew to Cyprus to be among the speakers of the 15th Cyprus Summit/Economist Conference in Nicosia.
The Vice President for Exploration and New Ventures for Europe, Russia, Caspian, Middle East and North Africa took the opportunity to meet with the Minister of Energy Yiorgos Lakkotrypis and Minister of Foreign Affairs Nicos Christodoulides to updated them on the company’s appraisal plan for Block 10 which will take place next year.
“Glaucus” deposit with 5-8 trillion cubic feet of gas is the largest gas discovery so far in Cyprus’ EEZ.
The appraisal drilling which is planned for 2020 will help the company with the commercialization decision.
Block 10 was licenced from the Government of Cyprus to ExxonMobil – Qatar Petroleum consortium in April 2017. (CNA)