ENI says Cyprus exploration program to go ahead despite Turkish opposition

0 Comment(s)Print E-mail Xinhua, April 27, 2018
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NICOSIA, April 25 (Xinhua) -- Italian state-run energy company ENI will not abandon its program to explore for natural gas in Cyprus's exclusive economic zone despite having been prevented from doing so recently by Turkish warships, the company's Chief Executive Officer Claudio Descalzi said on Wednesday.

"The company has invested 700 million euros and it is not planning to just leave it there," Descalzi told reporters after meeting Cyprus's President Nicos Anastasiades.

Turkish warships on naval exercises southeast of Cyprus prevented ENI's drillship Saipem 12000 from proceeding to its drilling target in the island's offshore block 3, called "Cuttlefish", between Cyprus and Lebanon in a two week standoff in February.

"One has to try again and again and again to succeed... We have invested about 700 million euros in Cyprus and this means that we have a strong commitment to the country," Descalzi said when asked whether the company will return in block 3 to complete its program.

ENI has obtained concessions in a total of four out of 13 Cypriot offshore blocks and in a fifth block in association with French Total, where it discovered a sizeable find of what was described as excellent quality gas in January.

ENI is bound by contract to drill at least two more exploratory holes in its concessions.

Descalzi said Europe imports more than 80 percent of its natural gas and added that therefore the eastern Mediterranean region was of great geopolitical importance to Europe, North Africa and the Middle East.

"Cyprus has a very important place in the heart of Europe, in the heart of this region," he said.

Cypriot Energy Minister Yiorgos Lakkotrypis said that ENI is an important partner in the eastern Mediterranean, because of its activities in Cyprus and Egypt, and also soon in Lebanon.

He also said that that the European Commission is expected to comment soon on a plan to build a pipe from another Cypriot gas well to one of Egypt's liquefaction plans, either at Idku or at Damietta.

The gas well from where gas will be piped to Egypt, known as Aphrodite, was drilled by U.S.-based Noble Energy and will be exploited in association with Israeli Delek and Royal Dutch Shell companies.

Lakkotrypis also said that a drilling planned by U.S. giant ExxonMobil in association with Qatar Petroleum in Cyprus's block 10 is set for the second half of this year.

The drilling point is close to the mammoth Egyptian Zohr gas field discovered by ENI. Enditem

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