Cyprus Hydrocarbons Company in Milan for talks with ENI

A delegation of Cyprus National Hydrocarbons Company (CNHC) will travel to Milan to discuss with Italian energy heavyweight, ENI, over its operations programme on Cypriot offshore blocks.

In the context of the second licensing round, the Cypriot government signed on January 24 three contracts with joint venture of Italian ENI and South Korea`s KOGAS on exploration in Cyprus` offshore blocks 2,3 and 9.

"We will discuss ENI`s operations programme as well as its budget," Solon Kasinis, CNHC Executive Vice Chairman told CNA, adding the two sides will also exchange views on the seismic studies and their implementation timeframe.

He also noted that they will also discuss the possibility for expediting the programme.

Furthermore, invited to comment on a press report by "Phileleftheros" that Noble Energy who has the contract for natural gas exploration in Cyprus block 12, estimates it could discover an additional natural gas reservoir of 5 trillion cubic feet (Tcf) in block 12, Kasinis recalled that he always maintained that block 12 contains more natural gas reserves, than initially estimated.

Exploratory drilling by Noble in block 12 revealed a gross mean of 7 tcf. Noble is expected this year to proceed with an appraisal well which would indicate the exact amount of the natural gas reservoir of the initial well.