ENERGY: Cyprus to escalate exploratory drills over next 24 months

Cyprus will continue with its energy exploration plans despite threats from Turkey with eight drills scheduled within the island’s EEZ by 2021.

Energy Minister George Lakkotrypis told reporters on Tuesday that six exploratory drills and two confirmation drills will take place offshore Cyprus over the next two years.

“Activities in the Cyprus EEZ continue. Eight drills are scheduled over the next 24 months. Six exploratory and two confirmatory,” said the Minister, during a presentation of his Ministry’s work.

The Minister declined to elaborate in which blocks the drills would take place or say which companies are involved but he said the targets have already been identified and a process is being followed.

He said programmed drills should begin by the end of this year or early 2020, while the government is close to clinching a deal with Total and Eni to license block 7.

Source: The Financial Mirror