ExxonMobil: Cyprus drilling schedule continues as planned

The existing schedule, which ExxonMobil has in place relating to its oil and gas exploration activities in Cyprus’ Exclusive Economic Zone, is continuing as planned, a company source has told CNA, after the completion of meetings a senior company delegation had with Cypriot ministers.

ExxonMobil’s Vice President for Europe, Russia Caspian and Asia Pacific / Middle East region, Tristan Asprey is in Cyprus for a visit.

In statements, in Limassol, Energy Minister Yiorgos Lakkotrypis said that the company’s delegation had a meeting with Foreign Minister Nikos Christodoulides in the morning and that he was also due to have a meeting with them later.

“We will discuss the forthcoming drilling in Cyprus’ EEZ, which according to its planning, will begin in the fourth quarter of 2018,” he noted, adding that two drillings are scheduled to take place one after the other in block 10.

He also said that the necessary geological and geophysical studies have recently been completed.

Replying to a question, Lakkotrypis said that this type of activities are very uncertain.

“We have witnessed this in the past,” he noted. Block 10, he recalled, was the object of the most fierce competition in the third licensing round, and there are expectations, but one has to wait for the results of the drilling and hopefully expectations will be confirmed.

As the ExxonMobil source has told CNA, this has been a routine visit by Asprey in Cyprus, confirming that exploration activities in Cyprus` EEZ continue as planned.