Energy Minister meets with ENI representatives to assess EEZ developments

Energy Minister Georgios Lakkotrypis said he is meeting on Tuesday with representatives of the Italian energy giant ENI, in order to asses on the highest level the available options concerning developments in block 3 of Cyprus’ exclusive economic zone (EEZ).

Drillship Saipem 12000, commissioned by ENI, was halted last Saturday by Turkish warships en route to a location within block 3 of Cyprus’ EEZ.

Addressing the open part of the session of the House Committee on Energy, Trade, Industry and Tourism, Lakkotrypis noted that the companies involved are truly behaving like our partners and consider Turkish provocative actions to have caused the problem.

The Minister also referred to statements made by the Government Spokesman, who said that there are ongoing diplomatic efforts on all levels, at the EU, the United Nations, with neighboring countries, as well as with the company, with which the Ministry is in constant contact.

Lakkotrypis said moreover that he talked last Sunday with ENI CEO Claudio Descalzi and added that the company also made representations to the Italian government.

The Minister further noted that there are many interpretations of Turkey’s behavior which constitutes undoubtedly an escalation in comparison to what we have seen until today. He added that there are many reasons for this behavior and said he would detail them in the closed part of the session that would follow next.

Moreover, the Minister said that the drillship has other obligations elsewhere, which must be met. Asked about its scheduled departure for Morroco � the drillship’s next destination after Cyprus � the Minister said he expected Saipem 12000 to leave early March.

Lakkotrypis also referred to the recent discovery by ENI in EEZ block 6, at the Calypso target, saying that the findings show a natural gas column of very good quality, but more studies need to be made in order to determine the quantity. More weeks are required in order to narrow the range, the Minister added.

Replying to a question by an MP, the Minister confirmed that the structures in the area are similar to those in the Zohr field, in Egypt’s EEZ, however each has its own particularities.

The Minister said finally that in October two more drills are expected to take place in block 10 by US energy giant Exxon.

ENI announced last week that it has made a lean gas discovery in block 6 offshore Cyprus with Calypso 1 NFW. The well, which was drilled in 2,074 meters of water depth reaching a final total depth of 3,827 meters, encountered an extended gas column in rocks of Miocene and Cretaceous age. The Cretaceous sequence has excellent reservoir characteristics.

An intensive and detailed data collection (fluids and rock samples) has been executed on the well. Calypso 1 is a promising gas discovery and confirms the extension of the Zohr like play in the Cyprus Exclusive Economic Zone (EEZ).

ENI is the operator of block 6 with 50% of participation interest while Total is partner with the remaining 50%.

ENI has been present in Cyprus since 2013 and detains interests in six licenses located in the EEZ of Cyprus (in Blocks 2, 3, 6, 8, 9 and 11), five of which are operated.

Source: Cyprus News Agency