Cyprus is now on the international energy sector map with a strong outlook, President says

Cyprus President, Nicos Anastasiades, has expressed satisfaction over the results of the first phase of the exploration programme, in Block 10 of the Republic of Cyprus Exclusive Economic Zone, noting that it places Cyprus on the international energy sector map.

The President also expressed hope that there will be better developments in the field of Energy in the future and that the House plenary will vote today for the establishment of the national investment fund that will manage future revenues from hydrocarbons.

Invited to comment developments in the Energy field after yesterday’s announcement of the results of the exploration in Block 10 of Cyprus’ EEZ, the President said that this issue needs to be addressed seriously, adding that this is a fortunate development, which places Cyprus on the international energy sector map, with a strong outlook.

He expressed hope that there will be better developments in the future and assured that the government of the Republic of Cyprus will serve the interests of all the citizens of the Republic.

Energy giant ExxonMobil and Cyprus government announced Thursday a discovery of a natural gas resource of approximately 5 to 8 trillion cubic feet in Cyprus’ offshore block 10, at the Glaucus-1 well.

Source: Cyprus News Agency