ExxonMobil – QatarEnergy commence drilling in block 5 of Cyprus' EEZ

President Nikos Christodoulides has announced on his social media that ExxonMobil and QatarEnergy have commenced drilling in block 5 of Cyprus’ maritime waters.

“Commencement of drilling this morning by ExxonMobil and QatarEnergy in Block 5 of Cyprus’ Exclusive Economic Zone,” he said. “Cyprus progresses exploration activities, aiming to be an alternative and reliable source of Natural Gas for the EU.”

Announcing the drilling last December, Energy Minister George Papanastasiou said that ExxonMobil and partner QatarEnergy would be drilling at the "Electra" target for approximately one month, before moving on to “Pegasus” in block 10.

“The geological structures we observe at 'Electra' are optimistic," he said. “The geological structures in block 5 appear to be promising," he added, though conceded: "Unless you drill, you can't confirm if this optimism will become reality."

Read More

Shipping Deputy Minister meets with President of the Arab Academy for Science, Technology and Maritime Transport
Cyprus-based Outfit7 announces new games, new audiences, and new Talking Tom
US delays higher tariffs but announces new rates for some nations
13th Invest Cyprus International Investment Awards almost here
Highest midday power demand of the year anticipated to have been this week, official data show
European Affairs Minister in London for working visit
Christodoulides: New natural gas discovery in EEZ reaffirms Cyprus’ energy potential
Theo Parperis on how establishing Cyprus as one of the region's family office hubs will increase FDI
Israel's Transport Minister paying Cyprus official visit
TechIsland launches new professional initiative for the Legal Community