Two new drillings in blocks 5 and 10 of the Cyprus EEZ are planned by the Exxon Mobil-Qatar Energy joint venture early next year, according to the ExxonMobil Vice President, John Ardil, who had a meeting with the President of the Republic on Friday, in the presence of the Minister of Energy, George Papanastasiou.
Mr. Papanastasiou expressed the hope that the deposit in block 5 will be something that will open horizons different from the usual ones.
In his statements after the meeting at the Presidential Palace, Mr. Ardil said they informed the President, Nikos Christodoulidis, of two new wells in early 2025 in Blocks 5 and 10, to look for new natural gas resources "to support rapid growth for both onshore and domestic gas supply and, possibly for liquefied natural gas (LNG)'.
In response to a journalist's comment that the President of the Republic said that a plan is being prepared for Glaukos and to a question whether part of this plan includes natural gas transport pipelines to Egypt or anywhere else and for how many quantities, Mr. Ardil said they talked about the drilling plans "being the first steps to understanding what resources are there, and then once we know that – around mid-2025 – then we'll be in a good position to look at different development options and different absorption ».
In his own statements, the Minister of Energy, Giorgos Papanastasiou, noted that the President of the Republic was informed by Exxon Mobil representatives about the next steps regarding the drilling program. He clarified that this is a joint venture in which Qatar Energy also participates and Exxon Mobil is the managing company.
The drilling program, he noted, concerns two milestones: the first is in mid-January, when the first drilling will be done in block 5 and concerns the "Elektra" well, and a second well, which will be next to "Glaukos" and concerns the "Pegasus", "which will be a separate drilling independent from "Glauko".
"Depending on the findings of the first drilling in block 5, the company will decide how to commercialize this field and we hope that the field will be something that will open horizons different from the usual," said Mr. Papanastasiou.
Regarding Pegasus, he said, "it is a well that is very related to how Glaukos will be developed." If this is also successful, then the effort will be to connect in some way with infrastructure, "Glaukos" and "Pegasus" so that both can be developed in parallel, "and it is understood that they are also in consultation with ENI, because everything these fields i.e. "Saturn", possibly "Pegasus" and the existing "Glaukos" can be developed in parallel and together through some synergies".
In response to a question about which synergies he is referring to, given that the President of the Republic had mentioned synergies with companies from the Persian Gulf, Mr. Papanastasiou clarified that the synergies he mentioned concern the existing deposits. "The interest that the President mentioned is from completely independent companies for a possible new licensing cycle," said the Minister.
Asked what he meant by new horizons being opened, the Minister said that depending on the findings after the two drillings, "you understand that if the quantities are satisfactory, now, the scene changes and changing the scene means that it can be developed, as Mr. Ardil also said, something that has liquefaction on the deposit or there may be something on land in Cyprus".
In response to a question about the earlier meeting of the President of the Republic with the President of the European Investment Bank and whether an opinion was given on the matter of the Interconnector, he said that he does not know the content of this meeting and that the President of the of Democracy and his team, which attended the specific meeting.
Negotiations for destination Prometheus
--------
When asked if there is anything new on the issue of the floating unit "Prometheus" and when it finally arrives in Cyprus, the Minister said that "it is specified that Prometheus will sail from Shanghai in early December and will go to a destination that is offered for certification but also for the use of Prometheus until we need him in the Royal".
Asked if the destination has been found, Mr. Papanastasiou said that negotiations are taking place "even now as we speak".
Source: KYPE
