A new deposit of approximately 3.5 tcf appears to have been identified, reportedly in Cypriot EEZ and specifically in the “Zeus 1” target in plot 6 from the drilling rig of the ENI-TotalEnergies consortium. Information indicates that the official announcement from the Ministry of Energy will be made within the day.
Speaking yesterday, the Minister of Energy Natasa Pileidou hinted that there are particularly positive results which, as she said, leave a note of optimism for the whole process that is underway.
Together with the 3.5 Tcf of Zeus and the 2.5 tfc from drilling “Saturn-1” (Block 6), we have discoveries in the Cypriot EEZ to date natural gas amounting to 15 to 18 Tcf., according to the sigmalive.com.
Specifically, in Block 12 the “Aphrodite” field is estimated at 4.5 Tcf, while the initial estimate of the “Glaukos” field in Block 10 was between 5 and 8 Tcf. In addition, Block 6 had also been discovered in 2018 high-grade natural gas reservoir in the target “Calypso-1.
Asked again about when we are expected to finally extract natural gas, Mrs. Pileidou said yesterday that the planning so far refers to 2027, however, she noted that we will have to see and decide how many quantities and where we will export, at what prices, what quantities will be absorbed by the Cyprus market itself and many other details that will have to be clarified.
According to Ms. Pileidou, we should also wait for the announcements from the Chevron company to see how we proceed.
Source: News Beast

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