For months the Tungsten Explorer drill rig has been above block 6 and it appears that it has begun to bear fruit.
At a time when the energy crisis is plaguing the whole of Europe, the news from Cyprus and the investigations in plot 6 are changing the data on the energy map of the region. According to information there are reasonable hopes for her discovery of a large hydrocarbon deposit in the piece 6her Cypriot EEZwhere EMI and Total operate.
“In addition to the new field, it seems that there are also positive indications for a 2nd column of natural gas, near the new field, without currently having any information on the size of this field”, says the editor-in-chief of Sigma TV Kyriakos Penindaex.
For months the Tungsten Explorer drill rig has been above block 6 and it appears that it has begun to bear fruit.
According to the Ministry of Energy of Cyprus, nothing can be announced until the completion of the investigations.
“The drilling, carried out by the joint venture Eni Cyprus Limited and TotalEnergies which holds a Hydrocarbon Exploration License for the Block in question, is expected to be completed within the next few weeks”, underlines the Ministry of Energy of Cyprus.
Block 6 is directly above plot 10, Glavkos, where EXCHONmobil and QATAR Energy are exploring.
The Minister of Energy of Cyprus had previously announced that expectations for the discovery of a new field are high.
“The more quantities we find in the same area, the more the exploitation possibilities increase in a shorter period of time because synergies are found between the companies active in the various blocks”, states the Minister of Energy of Cyprus, Natasa Pileidou.
The beginning in the Cyprus EEZ was in Block 12, where the Noble, Shell and Delek consortium has confirmed the existence of a natural gas field of 4.5 trillion cubic feet. As many others, and more, have been identified in Glaukos.
Since 2007 Cyprus has been granting hydrocarbon exploration licenses in its 13 blocks of Exclusive Economic Zone, it has attracted the interest of global energy giants such as ENI, Total, and Exxon Mobil and is attempting to become a major offshore energy hub.
It takes many years for them to be marketable, points out the professor of European Law & Energy Law, Nikolaos Farandouris.
However, from Venus alone, the Republic of Cyprus has agreed to receive approximately 500 million euros per year for the next 10 years.
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