Eni puts major new East Med gas project on fast track - UPSTREAM

12 April 2023 10:28 GMT
Iain Esau in London

Eni is set to sanction a major new project offshore Cyprus in 2024 and is studying onshore and offshore liquefied natural gas solutions, according to the company’s head of natural resources.

The Italian major is also exploring the possibility of working with US giant ExxonMobil on a joint development of their Cypriot gas resources, although this appears the least likely option at present.

Eni has found at least 4.5 trillion cubic feet of gas-in-place in Block 6 offshore southern Cyprus in recent years, resources held in the deep-water Calypso, Cronos and Zeus discoveries that were drilled between 2018 and late 2022.

Zeus-1 was completed late last year, hitting 105 metres of net pay in a carbonate reservoir that hosts between 2 Tcf and 3 Tcf of gas in place. This find came after the Cronos-1 probe found 2.5 Tcf of in-place resources last August, while the play-opening discovery was made by the Calypso-1 wildcat in 2018. Speaking to Upstream last week, Guido Brusco, chief operating officer of Eni’s natural resources business, explained the company’s thinking on how best to tap this gas. He said there are “clearly” two options, “either floating LNG or a tie-in to Egypt”, where Eni operates the Damietta LNG plant.

Italy, Cyprus Say Turkey-Libya Maritime Deal 'Unacceptable' - THE NEW YORK TIMES / ASSOCIATED PRESS

Jan. 29, 2020

ROME — A maritime border agreement between Turkey and Libya's U.N.-backed government is “unacceptable," violates international law and flouts the sovereign rights of other countries, the foreign ministers of Italy and Cyprus said Wednesday..

Italian Foreign Minister Luigi Di Maio and his Cypriot counterpart Nikos Christodoulides said in a joint statement after talks in Rome that the deal cannot have any legal impact on other countries.

Turkey says the deal grants its economic rights to a large swath of the east Mediterranean sea and prevents any energy-related projects from moving forward without Ankara's consent.

One such project that Israel, Cyprus and Greece had agreed on earlier this month is an envisioned undersea pipeline (TEKMOR Note: East Med Pipeline) ferrying natural gas discovered in the east Mediterranean to European markets.

Kasoulides: Turkish interference expected to increase in Cyprus’ EEZ - CYPRUS MAIL

FEBRUARY 10, 2018

Turkey’s interference in Cyprus’ energy plan is expected to increase following new discoveries in Cyprus’ EEZ, Foreign Minister Ioannis Kasoulides said on Saturday in the wake of harassment reports of a drillship on Friday by Turkish navy vessels.

In statements to public broadcaster CyBC, Kasoulides said the Turkish vessels that had harassed Italian giant ENI’s ‘Saipem 12000’ drillship had forced the captain to manoeuvre out of their way and eventually come to a stop 15 nautical miles from the ‘Soupia’ (Cuttlefish) Block 3 plot, to which it was heading. ENI on Thursday announced promising findings in Block 6 of Cyprus’ exclusive economic zone (EEZ).

TEKMOR Note: It's about time Turkey realized that Cypriot EEZ is EU EEZ; it's no longer a cat chasing mouse game in and around Cyprus; there's a dog present.

ENI drilling could lead to positive development for Europe - IN CYPRUS / CYPRUS WEEKLY

August 1, 2017

Italy’s energy giant ENI is currently carrying out drilling offshore Cyprus and this could lead to a positive development for the whole of Europe.

This is what Italian Minister of Defence Roberta Pinotti said in Nicosia on Monday evening after talks with her Cypriot counterpart Christoforos Fokaides.

“Italy’s ENI is working right now (here in Cyprus) and I believe that we will have a positive development for the whole of Europe,” Pinotti said.

“We have to work for security and to confront difficulties and obstacles. We have to work for the future welfare of Europe within the framework of a flourishing economy,” she added.

Italian defence minister in Cyprus visit - IN CYPRUS / CYPRUS WEEKLY

July 31, 2017

Italian Defence Minister Roberta Pinotti will visit Cyprus on Monday where she will hold talks with her Cypriot counterpart Christoforos Fokaides.

During the meeting of the two ministers, they will sign an agreement on Exchange and Mutual Protection of Information. Pinotti will also meet with Cyprus President Nicos Anastasiades.

According to a press release by the PIO, Pinotti will be officially welcomed by Fokaides at the National Guard General Staff premises in Nicosia, where the meeting will take place.

Cyprus working with Italy over energy - CYPRUS MAIL

Ioannis Kasoulides, FM, Cyprus (left), Paolo Gentiloni, FM, Italy

SEPTEMBER 12TH, 2016

Foreign Minister Ioannis Kasoulides said on Monday that critical elements of the Cyprus negotiations had not yet advanced to such a point “where we can see a light at the end of the tunnel”.

Kasoulides was speaking after meeting with his Italian counterpart Paolo Gentiloni in Nicosia where they discussed the Cyprus issue, energy, Brexit, terrorism, migration and Turkey-EU relations.

Asked if a solution to the Cyprus problem was possible within 2016, Kasoulides expressed the hope that it could be.

“It is not certain, because essential issues like the one of the question of the guarantees has not yet advanced to such a point, where we can see light at the end of the tunnel,” he said.