Minister briefed on exploratory drilling results


Energy Minister Giorgos Lakkotrypis was briefed on Friday on the results of exploratory drilling in the field “Onisiforos” of Cyprus’ offshore Block “11” by energy majors ENI and Total. 



Government sources said on Saturday Energy Ministry technocrats are evaluating the facts before them and on Tuesday Lakkotrypis will inform the House Commerce Committee before making statements to the press. 

The same sources said that an overall evaluation of the results of the exploratory drilling will take some time by both the government and the two companies. 

Saturday’s edition of Phileleftheros newspaper said that no large natural gas discoveries were made at Onisiforos but that TOTAL/ENI consortium which are carrying out the drilling were satisfied as it as raises the chances to find other reserves. 

In July, Lakkotrypis had said that the government does not expect a large natural gas discovery in block 11. 

“The estimates are that Onisiforos will be of the caliber of Aphrodite (block 12, 4.5 trillion cubic feet) and is not expected to be a game-changer in the region,” the minister had said. 

ENI had said that it expects the results of the exploratory drilling in the field “Onisiforos”, to determine its next drilling target within the Republic’s Exclusive Economic Zone (EEZ). 

 

Source: Stockwatch

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