Total is committed to continuing its exploration work in Cyprus, chief executive Patrick Pouyanne told Reuters on Monday, part of a major exploration campaign for 2019 focused on areas known to contain commercial levels of oil and gas.
Speaking on the sidelines of an energy forum in Cairo, Pouyanne said he was discussing “the extension of our future drillings” and committed to new exploration.
Total operates offshore exploration block 11 southwest of Cyprus; it also holds a 50 per cent stake in block 6.
Last November, Total and ENI applied for an exploration licence in block 7 of the island’s exclusive economic zone. Block 7 is adjacent to both blocks 6 and 11.
The government had invited bids on block 7 from companies already licensed to explore offshore Cyprus.
Energy minister Giorgos Lakkotrypis said at the time that this option had been chosen rather than launching another licensing round because “there are particular geological reasons related to the Calypso discovery.”
The Calypso field is located in block 6 where Italy’s ENI carried out an exploratory drill last year and is believed to hold between six and eight trillion cubic feet of natural gas.