President and ENI CEO discuss scenarios for exploitation of natural gas fields

07:53 - 02 May 2024

Christodoulides_ENI CEO Claudio Descalzi

Economy Reporter

ENI's discoveries in Cyprus' Exclusive Economic Zone (EEZ) and the scenarios for the exploitation of the confirmed drillings as well as the preferred solutions to efficiently meet domestic energy priorities were discussed in a meeting the President of the Republic, Nikos Christodoulides, and ENI's CEO Claudio Descalzi.

The meeting was held at the Presidential Palaceon 30 April in the presence of the Ministers of Energy and Foreign Affairs.

According to a joint written statement by the Republic of Cyprus and Eni, President Christodoulides and Descalzi met to discuss "Eni's activities and future projects in the country."

In particular, President Christodoulides and ENI's CEO reviewed the discoveries made in 2022 by Eni and its partner TotalEnergies of Cronos and Zeus which led to the drilling of Cronos 2 appraisal well in late 2023.

It is added that the latter included a production test in early 2024 that delivered excellent performances and increased volumes.

“While the acquired data are still under study, the encouraging outcomes of the previous wells have been confirmed,” the statement says.

It is noted that the meeting was the occasion to discuss a shared fast-track approach that allowed the appraisal well to be drilled while evaluating multiple development scenarios.

It is further noted that “highlights of the preferred solutions to efficiently meet domestic as well as regional and European energy priorities in the short and longer period have been outlined.”

Eni has been present in Cyprus since 2013 and the company operates Blocks 2, 3, 6, 8 and 9 and has interests in Blocks 7 and 11 of the Cypriot EEZ, the statement concludes.

(Source: CNA)

President and ENI CEO discuss scenarios for exploitation of natural gas fields

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