Exxon Mobil, QatarEnergy start drilling off the coast of Cyprus

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יום שלישי 23.04.2024

Exxon Mobil, QatarEnergy start drilling off the coast of Cyprus

10/01/2022 21:45

| שיתוף

S and Qatar energy giants had been awarded oil exploration licenses by Cyprus to exploit Section 5 of its self-declared exclusive economic zone.

ExxonMobil and its partner QatarEnergy began drilling off the coast of Cyprus on Tuesday amid threats by Turkish warships over concerns of violating its territory.

The two companies were awarded energy exploration licenses by Cyprus earlier this month, triggering Turkey to accuse Cyprus of violating its continental shelf, noting it would not permit unauthorised oil exploration in its jurisdiction.

Turkey has seized parts of block 10 of the island’s Exclusive Economic Zone (EEZ), defying soft European Union sanctions and warning other vessels to steer clear. However, both the US and Qatar have assured Turkey that ExxonMobil and QatarEnergy (QE, formerly Qatar Petroleum) will not enter Turkey’s continental shelf in the Eastern Mediterranean.

The operations will determine the gas quantities located in the reservoir there, the speed and the way of exploitation of the hydrocarbons in the Cypriot Exclusive Economic Zone, Cyprus-based Philenews reported.

“The consortium carries out an appraisal well in the “Glafcos” gas find in block 10 which is estimated to carry a reservoir between 5 and 8 trillion cubic feet,” it added, noting that results are expected during the first quarter of 2022.

This comes as the EU’s Foreign Affairs Chief Josep Borrell requested Turkey to sign the United Nations Convention on the Law of the Sea (UNCLOS).

HOLANEWS| Hala Abdallah | 23.12.21

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