ENERGY: Lakkotrypis calls for patience over â€˜Onisiforosâ€™ natgas drilling

Cyprus Energy Minister Yiorgos Lakkotrypis called for a few more days of patience when asked about the results of an offshore drill by Total and ENI in the Cyprus exclusive economic zone (EEZ).

Speaking at the Presidential Palace, after attending a meeting with the boards of the Electricity Authority of Cyprus and the Cyprus Energy Regulatory Authority, Lakkotrypis was asked about the results in the “Onisiforos” drilling and said that “when the time comes, we will make announcements”.

The Minister added that data processing occurs in real time, but a detailed analysis takes months.

“Drilling continues normally, a little more patience and we will make the necessary announcements” he added. The area in Cyprus’ exclusive economic zone block 11 is licensed to energy giants Total and ENI.

Asked about designs to produce energy from imported natural gas, the Minister said that the process falls within the competencies of the Natural Gas Public Company (DEFA). He added that DEFA is currently hiring advisers in order to proceed with a call for tenders in the first quarter of 2018 regarding infrastructure and the importation of natural gas.

DEFA, the EAC and CERA are working closely together, since at the end of the day the Electricity Authority will be the main user for some years and will have a certain stake in infrastructure, the Minister concluded.