ExxonMobil and Qatar Petroleum consortium’s drilling which began on Tuesday in offshore block 10 will not only determine the gas quantities located in the reservoir there.
To a large extent, it will also determine the speed and the way of exploitation of the hydrocarbons in the Cypriot Exclusive Economic Zone, Philenews reports.
The results are expected during the first quarter of 2022 and is something Nicosia eagerly await with high expectations, it added.
The consortium carries out an appraisal well in the “Glafcos” gas find in block 10 which is estimated to carry a reservoir between 5 and 8 trillion cubic feet.
Block 10 was relinquished by the French company Total four years ago as “no gas potential was expected in the block”.
It is situated few kilometers away from the Egyptian Zohr field were the biggest gas discovery (30 TCF) in the Mediterranean Sea was made.
