ENI, Total find ‘extensive’ gas reserves off Cyprus

NICOSIA-Agence France-Presse

Exploratory drilling by Italy’s Eni and France’s Total have discovered “extensive” gas reserves off Cyprus, Greek Cypriot Energy Minister George Lakkotrypis said on Feb. 8.

“The data obtained from the exploration drilling, at a depth of 3,827 meters (12,600 feet), demonstrates the existence of an extensive column of pure gas,” said Lakkotrypis.

He said the rock formation indicated an “excellent quality reservoir.”

“This is a particularly positive development as it shows our natural gas reserves are growing and confirms the existence of an oil system as well as a carbon sink,” Lakkotrypis told reporters.

In a joint venture with Total, Eni started test-drilling for possible gas reserves in block 6, called Calypso, in December.

Total and Eni will carry out further research and evaluation work to assess the amount of natural gas contained in the Calypso reservoir.

Eni, with South Korea’s Kogas, will now turn its attention to exploratory drilling in block 3, while U.S. giant ExxonMobil is planning two drills in the second half of 2018.

Turkey has voiced opposition to drilling off the island saying it wants a solution to the island’s 44-year division first so that Turkish Cypriots can share any energy wealth created.