Houston: President of the Republic Nikos Christodoulides engaged in discussions with ExxonMobil’s Vice President, John Ardill, on Saturday regarding the progression and commercialization of natural gas fields within the Cypriot Exclusive Economic Zone (EEZ).
According to Cyprus News Agency, the meeting, held in Houston, Texas, focused on both the current and future energy developments in the Cypriot EEZ and highlighted the strategic presence of ExxonMobil in the region.
Government Spokesman, Konstantinos Letymbiotis, stated that ExxonMobil, in collaboration with QatarEnergy, holds exploration and exploitation rights in blocks 5 and 10 of the Cyprus EEZ. Notably, in block 10, successful drillings confirmed the presence of natural gas in the “Glafkos” deposit, while exploratory drilling is underway in block 5 at the “Electra” target. These findings enhance Cyprus’s role as an energy partner in the Eastern Mediterranean, contributing to the broader European Union objectives of energy security and diversification.
The discussions between President Christodoulides and ExxonMobil included the next steps aligned with the company’s drilling program and Cyprus’s energy objectives, aiming at the development and commercialization of the EEZ deposits. The potential for collaborations with companies managing neighboring deposits was also explored to accelerate the commercial development of all resources.
President Christodoulides expressed satisfaction with the ongoing cooperation with ExxonMobil and emphasized Cyprus’s commitment to advancing its energy strategy, aligning with national interests and promoting regional cooperation and stability.