Positive signs from ENI's drilling in Cyprus' EEZ says President

07:42 - 22 January 2024

Economy Reporter

President of the Republic of Cyprus Nikos Christodoulides, spoke about positive indications from the drilling conducted by energy company ENI at the "Cronos 2" target within Block 6 of Cyprus’ Exclusive Economic Zone (EEZ).

Speaking in Inia, Paphos, where he attended the inauguration ceremony of various projects in the community on 20 January, President Christodoulides urged for patience ahead of an official update from the Italian company.

Commenting on reports suggesting that "Cronos 2" could be an energy treasure, the President said that he was expecting an "official update from the company itself." He mentioned that during his recent visit to Rome, he had a meeting with ENI's CEO, Claudio Descalzi, who informed him that "after the completion of the results, he will visit Cyprus to provide information on both the outcomes and the development plan."

The President urged for patience until there's an official update, “and then the government will take a specific position”, as he mentioned.

"Cronos 2" is the fourth discovery in block 6, following "Zeus" with an estimated quantity of 2-3 trillion cubic feet, "Cronos 1" with an estimated quantity of 2.5 tfc and "Calypso", which ENI described as a “promising discovery” confirming the extension of “Zhor-like play” in the Cypriot EEZ.

Block 6 lies approximately 160 kilometres southwest of Cyprus. ENI is the Operator of block 6 with 50% of participation interest while Total is partner with the remaining 50%.

Also read: Gas flaring carried out at 'Cronos 2' target in Cyprus' EEZ

(Source: CNA)

Positive signs from ENI's drilling in Cyprus' EEZ says President

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