Further drilling in South Cyprus’ EEZ zone will commence in mid to late June. The operation is to confirm the quantity, quality and recoverability of the gas in block 12.
Exploratory drilling conducted by Noble Energy in Block 12 of Cyprus’ exclusive economic zone has revealed a gross natural gas reserve from 3 to 9 trillion cubic feet with a 60% probability of geologic success.
Noble is expected to extract and transfer natural gas to Cyprus by late 2018.
Contracts have been signed with the Eni/KOGAS consortium in blocks 2, 3 and 9 within Cyprus’ exclusive economic zone and with Total for blocks 10 and 11 in the context of the second licensing round.
Turkey which disputes the validity of the South Cyprus EEZ has expressed its own interest in blocks 4,5,6 and 7.
It has already censured Italian energy company Eni which is involved in two pipeline projects on the Turkish mainland.