Cyprus Mail
Energy

Onisiforos well not commercially viable, Lakkotrypis says

Energy Minister Giorgos Lakkotrypis

The Onisiforos well in Cyprus’ exclusive economic zone (EEZ) is estimated to have less than half a trillion cubic feet (tcf) of natural gas, Energy Minister Yiorgos Lakkotrypis said on Tuesday.

Addressing a press conference, in Nicosia, after the completion of a drilling operation by energy giants ENI and Total in EEZ block 11, Lakkotrypis also said that the outcome means that the reserve is commercially not a stand-alone project.

The minister added, however, that results are encouraging, in the sense that they confirm the existence of natural gas and a carbonate reservoir within Cyprus’ EEZ, similar to the one discovered in Egypt’s Zohr field.

 

More later

Related posts

Peace gathering and fund raiser for Sri Lanka bomb victims

Bejay Browne

Former president’s health continues to show signs of improvement

Lizzy Ioannidou

Increased halloumi demand drives prices up in UK

Lizzy Ioannidou

Well-known political cartoonist dies ..

Lizzy Ioannidou

Firefighters sent to Israel to return Sunday after job done

Lizzy Ioannidou

Recycling Festival raises awareness through music, games and dance

CNA News Service

17 comments

Comments are closed.

X