Tough choices: how to monetise Cyprus’ gas - CYPRUS MAIL

ENI's Carlo Vito Russo and Alessandro Barberis with Energy Minister
Giorgos Lakkotrypis at the seminar

MARCH 10, 2019

Charles Ellinas

Should Cyprus pipe gas to Egypt or build a LNG plant at Vasiliko?

The future of Cyprus’ and the East Med’s gas discoveries was one of the key aims of the annual East Med Gas Conference (EMGC) held in Nicosia this week.

Organised by the US Gulf Energy Information, the conference was well attended, with a rich programme covering the state of the East Med, challenges in exploration and production of the region’s resources, energy security and Cyprus as an oil and gas service centre.

The conference was opened by Energy Minister Giorgos Lakkotrypis, who gave an overview of the results from block 10 and future plans. He said that Glafcos, the results of which were announced last week, is a high quality reservoir, with in-place gas estimated to be 5-8 trillion cubic feet (tcf), with recoverability expected to be high.

ENERGY: Cyprus gas fields are turning into export grade - FINANCIAL MIRROR

07 March, 2019

Cypriot Energy Minister George Lakkotrypis said the quality of the reservoir found in Block 10 of Cyprus’ Exclusive Economic Zone (EEZ) allows for optimism that the recoverability will be very high.

The Minister, speaking at the 6th Eastern Mediterranean Gas Conference in Nicosia, also noted that more appraisal work is needed by ExxonMobil within the coming weeks.

ExxonMobil discovered huge quantities of natural gas ranging from 5 to 8 trillion square feet, the largest find offshore Cyprus.

Lakkotrypis said the discovery in the “Glafcos 1” well creates prospects to relook at Block 10 targets, adding that “Calypso” and “Aphrodite” fields, indicate the potential of the EEZ. The Minister said that Nicosia was looking forward to the upcoming drilling programme of Eni and Total, waiting at the same time the appraisal well for “Calypso” in Block 6.

Referring to monetization of the discoveries, he said that the Cyprus government has been maturing all of its options simultaneously, with the exception of “Aphrodite” field for which announcements were hopefully expected in the next few weeks.

Upbeat vision of gas future in wake of block 10 find - CYPRUS MAIL

Energy minister Giorgos Lakkotrypis addressing the seminar

March 6, 2019

The gas find in Glafcos (Glaucus) 1 well in Block 10 of the island’s exclusive economic zone (EEZ) is expected to yield large revenues, the energy minister Giorgos Lakkotrypis said on Wednesday.

Speaking at the Sixth Eastern Mediterranean Gas Conference in Nicosia, Lakkotrypis said in the coming weeks further work to confirm the ExxonMobil discovery, which was announced on 28 February to be between 5-8 trillion cubic feet (tcf), will be necessary.

Further discoveries in the Calypso well in Block 6 and in the Aphrodite well in Block 12 serve to paint an overall picture of the potential within the Cyprus EEZ, Lakkotrypis added.

Around five more drillings are expected to take place in the coming period with energy companies ENI and Total, he said, to confirm the natural gas stocks of the Calypso well and reassessing the capacity of Block 10.

Regarding the utilisation of the gas finds, he said that an announcement for Aphrodite is expected within weeks concerning the use of Egyptian terminals.

Exploratory drilling in Cyprus' EEZ to take place in July - SIGMA LIVE

06.04.2017 15:12

Exploratory drilling is set to take place in block 11 of Cyprus’ Exclusive Economic Zone (EEZ) in the first two weeks of July, a top Total official said, on Thursday.

Eleanor Rowley, Total’s VP of Exploration, MENA region, was addressing a ceremony, at the Presidential Palace, during which the contracts for exploration and production sharing for blocks 6 and 8 within Cyprus’ EEZ were signed.

“I’m happy to say that this will be the first test of the Zohr play in Cypriot waters. So we are very excited to operate this well along with our partners ENI,” she said.