The ExxonMobil-Qatar Energy consortium will complete an ongoing appraisal drilling in Cyprus’ block 10 by end of March, Energy Minister Natasa Pilides told CNA in an interview published on Thursday.
The drilling is estimated to carry a reservoir between 5 and 8 trillion cubic feet and results are eagerly awaited since these will increase the island’s confirmed gas deposits, she added.
At the same time, the Eni-Total consortium will proceed with a drilling within the year.
And seismic work will begin on block 5 by ExxonMobil to see if there is an interconnection with block 10 and, therefore, prospects in that area.
The Minister also said Cyprus could play a role in Europe`s energy supply either through its own gas reserves or through the electricity interconnection projects that aim to connect Cyprus with Europe.
Asked whether developments in Ukraine could accelerate the development of Cyprus’ confirmed gas deposits, Pilides said the government definitely encourages companies operating in Cyprus’ Exclusive Economic Zone (EEZ) towards that direction.
Cyprus, she also said, is in consultations with the EU and supports the position that it can play a role in the bloc’s energy supply.