The Italian-French consortium Eni-Total has commenced new exploratory drilling for natural gas at Cronos-1 within Block 6 of Cyprus’ exclusive economic zone, the Energy Ministry announced.
The ministry said the Tungsten Explorer drillship arrived Monday and began work for the consortium with a hydrocarbon exploration license for Block 6.
Test drilling will be monitored continuously by the Energy Ministry.
Eni and Total return to Cyprus water after more than a two-year absence due to the coronavirus pandemic
After this drilling, the French-Italian consortium, this year, will most likely carry out a second in another area where they have seismic data.
For the Calypso deposit, the results of the research drilling carried out in 2018 showed reserves initially estimated at 5-8 trillion cubic feet.
Eni-Total – the biggest player in Cyprus’ EEZ — is licensed to prospect for hydrocarbons in seven of 13 blocks off Cyprus.
ExxonMobil-Qatar Energy is also expected to continue seismic research in the summer, most probably June, in block 5 of Cyprus’ EEZ and probably in some parts of block 10.
Cyprus’ untapped wealth has become a more attractive prospect as the EU strives to end energy dependency on Russian natural gas.
The Eni-Total venture has resumed work on Block 6 to get a better picture of the Calypso deposit.
Utilising Egypt’s existing terminals and a new LNG plant in Cyprus is seen as the fastest and most flexible way to export Israeli gas to Southeastern Europe.