The natural gas quantity at the 'Pegasus' and 'Glaucus' blocks in Cyprus’s EEZ may amount to 8–9 trillion cubic feet, as ExxonMobil has informed President Nikos Christodoulides, Government Spokesperson Konstantinos Letymbiotis has said.
President Christodoulides on 25 September, met with a delegation from ExxonMobil headed by Vice President John Ardill, who conveyed positive news regarding the company’s activities in Cyprus’s Exclusive Economic Zone (EEZ), a press release issued by the Cyprus Presidency said.
It added that during the meeting, the President of the Republic stressed that the Cypriot government attaches great importance to ExxonMobil’s presence in the Cypriot EEZ, noting that “our cooperation is excellent and always based on honesty. I look forward to our discussions today, particularly on the assessment of the results for ‘Pegasus’, as well as for Block 10, and also on some other issues on the agenda.”
On his part, Ardill stated that he had some very good news to share with the President of the Republic. He emphasised that progress had been achieved and highlighted the success of the surveys at 'Pegasus', the press release noted.
Speaking to the media after Christodoulides’ meeting with ExxonMobil, the Spokesperson noted that “it was a very important meeting during which ExxonMobil Vice President Mr. John Ardill briefed the President of the Republic on the initial findings of the latest drilling at ‘Pegasus’."
"According to the preliminary data before them, combined with ‘Glaucus’, the quantity of natural gas, as the company’s Vice President said, may amount to 8–9 trillion cubic feet. These are very positive developments, very positive messages from ExxonMobil,” he noted.
Letymbiotis said that the President of the Republic conveyed to Ardill both his satisfaction over the cooperation with the company so far and its activity in the Cyprus EEZ, as well as the Cypriot government’s message regarding the acceleration of the extraction, as soon as possible, in order to utilise the natural wealth of the Cyprus EEZ, with the primary goal being a positive impact on energy costs for Cypriot consumers.
“This is positive news, we remain committed to the implementation of the energy planning, and the companies active in the Cyprus EEZ – ExxonMobil being among the main ones – are global giants, whose presence constitutes a vote of confidence in the Cyprus EEZ,” he said.
Asked whether the company explained how it would proceed with a view to utilise these quantities, the Spokesperson responded that “a very specific discussion took place. In the immediate period ahead further very concrete actions are expected to take place from the company with timetables that will be set regarding the implementation of the necessary steps to exploit the natural gas."
"This is one of the goals that have been set – and I will repeat, because the President of the Republic has been explicit on many occasions – that this energy planning will be implemented on the basis of the agreed timetables,” he concluded.
(Source: CNA)
