ExxonMobil and Qatar Energy on Friday began exploratory drilling for natural gas in a prospect west of Cyprus, Cyprus President Nikos Christodoulides said on X.The…
ExxonMobil and Qatar Energy on Friday began exploratory drilling for natural gas in a prospect west of Cyprus, Cyprus President Nikos Christodoulides said on X.
The east Mediterranean has yielded some major gas discoveries in recent years, and a disruption in energy supplies from Russia after its 2022 invasion of Ukraine has sharpened Europe's attention on securing alternative sources of supply.
"Cyprus progresses exploration activities, aiming to be an alternative and reliable source of natural gas for the EU," Christodoulides wrote in his post.
He said drilling at the prospect, named Electra, got underway on Friday morning.
ExxonMobil executives have previously described Electra as 'highly promising'.
The company secured hydrocarbon exploration licences for Cyprus in 2017.Other multinationals in the region include U.S.'s Chevron, Italy's Eni and France's TotalEnergies.
Cyprus has made modest finds offshore compared to sizeable discoveries by neighbours Egypt and Israel. It has not yet put any gas into production.
The Mediterranean island nation is divided with the internationally-recognised government in the south and a breakaway Turkey-backed administration in the north.
Cyprus's drilling activities by are being closely monitored
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