There was optimism on Thursday over the results of an exploratory drill in an offshore field in the island’s exclusive economic zone (EEZ), which will be announced in the afternoon.
Reports on the media suggest that ExxonMobil has discovered a natural gas reserve in block 10 that is commercially viable.
The company will brief President Nicos Anastasiades about their findings at 12pm.
The results will be announced at 2pm during a news conference.
The results concern two exploratory drills in two fields, Delphyne and Glaucus.
It appears that Delphine has not struck commercial quantities of gas, but it is likely to have encountered gas presence, reports have suggested.
The positive news is that there appears to be a gas discovery at Glafcos, but there are no indications of quantities.