News Energy No change in energy plans, says President Anastasiades

No change in energy plans, says President Anastasiades

Government plans for the energy sector will not change, President Nicos Anastasiades has assured

The President said he was not disappointed by the results of ENI/KOGAS drilling in “Amathusa” field. He did however referred to similar cases in Norway where “three drillings were unsuccessful but the fourth one revealed the richest field”.

Asked whether the plans of the Government will change, Anastasiades said no.

The Italian-South Korean consortium ENI/KOGAS moved on to “Amathusa”, in Cyprus` block 9, after an exploratory well in “Onasagoras” site in the same block found no exploitable quantities of hydrocarbons.

Reports in the press suggest that the result of the drilling in “Amathusa” is similar.

Four years after the initial exploration well in block 12 of the island`s exclusive economic zone, US Noble Energy will submit its development plan for the “Aphrodite” well that holds a gross reserve of natural gas amounting to 4.50 trillion cubic feet. Cyprus has already engaged in talks with Egypt to explore ways of exporting natural gas in the neighbouring country.

The government has recently signed with French energy giant Total an agreement to further assess the prospects of exploration block 11, after the company`s announcement that it was not able to locate drilling target areas within blocks 10 and 11 that it has been licensed to explore.

Source CNA