AFP – United States (US) major ExxonMobil and Qatar Energy have launched a new drilling operation off Cyprus as they seek to tap the Mediterranean island’s offshore gas, officials said.
President Nikos Christodoulides posted on X that ExxonMobil and Qatar Energy began appraisal drilling in Block 5 of Cyprus’s exclusive economic zone (EEZ).
“Cyprus progresses exploration activities, aiming to be an alternative and reliable source of natural gas for the European Union,” Christodoulides said.
Europe has been seeking alternative sources of natural gas since almost three years ago.
The Energy Ministry confirmed that the drillship Valaris DS-9 has “commenced drilling operations at the ‘Elektra-1’ target within Block 5 of Cyprus’s EEZ”.
During a visit to Nicosia in November, ExxonMobil’s vice president for global exploration John Ardill said the company was looking “for new gas resources to support rapid development for both offshore domestic gas supply and potentially liquefied natural gas”.
ExxonMobil and Qatar Energy hold two exploration licences for which concessions have been awarded off Cyprus.
In February 2019, the consortium discovered a huge natural gas reserve in Block 10, the island’s biggest find to date, holding an estimated 142 billion to 227 billion cubic metres.
Another new appraisal drill is expected in Block 10.
Ardill said the January drillings will help determine the potential gas reserves, allowing “different options” to be considered by mid-2025.
Officials said ExxonMobil is in discussion with a consortium of Italy’s Eni and France’s Total to link their discoveries to make development commercially viable.
The rival consortium holds the majority of exploration blocks licensed by the Cyprus government – seven of the 13 south of the island.
A third consortium led by US major Chevron and Britain’s Shell began drilling an appraisal well in the island’s Aphrodite field last year. The field, which was discovered in Block 12 in 2011, was Cyprus’ first gas find. Energy Minister George Papanastasiou later said Christodoulides had accepted an invitation from the Egyptian president to sign a host government agreement to process gas from the Cronos field licensed to Eni-Total.
“The signing will take place on February 17 in Cairo, marking a major milestone in the commercial development of the field, with Egypt serving as the host country for the natural gas,” Papanastasiou told reporters.
He said a memorandum of understanding will also be signed between Cyprus, Egypt and the operator of the Aphrodite gas field to “enhance cooperation further”.
“These agreements represent a significant step forward in strengthening the energy collaboration between Cyprus and Egypt.”
The comments came after Egyptian Petroleum Minister Karim Badawi held talks with Christodoulides in Nicosia.
The island’s internationally recognised government believes production for domestic power generation could start as early as 2027.
