August 29, 2017

Energy sector developments brewing in Cyprus

This autumn will be full of developments in Cyprus’ energy sector, with the results of the West Capella drilling in block 11 set to be announced in September.

At the same time, the Eastmed pipeline, aspired to connect Israel, Cyprus, Greece, and Italy, will be discussed at a four-member ministerial meeting on December 5 in Nicosia. Informed sources expect that a Memorandum of Understanding will be signed at the meeting.

Italian energy company ENI is still considering its options for drilling, having blocks 3, 6, and 8 to choose from. The most important factor in the company’s decision will be the results of three-dimensional surveys which were conducted recently and are currently being processed.

In addition, on September 6 an Exxon Mobil press conference will take place at the Famagusta Gate in Nicosia. The company, which is licensed for exploration in block 10, will present its international energy prospects and the energy programme of the company in the Cyprus EEZ.


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