ExxonMobil: 9 trillion cubic feet of natural gas may be available in the Cypriot EEZ

Eight to 9 trillion cubic feet of natural gas whitethorn beryllium disposable successful the Pegasus and Glafkos fields successful the Cypriot EEZ, according to an update provided by ExxonMobil to the President of the Cypriot Republic, authorities spokesperson K. Letibiotis said.

During the meeting, the President of the Republic, Nikos Christodoulides, said that the Cypriot authorities considers ExxonMobil’s beingness successful the Cyprus Exclusive Economic Zone precise important, noting that “our practice is fantabulous and ever based connected sincerity. I look guardant to our discussions today, peculiarly connected the appraisal of the results for ‘Pegasus’, but besides connected Block 10, arsenic good arsenic connected immoderate different issues connected the agenda.”

For his part, Mr Ardill said helium had precise bully quality to springiness to the President, stressing that advancement had been made, portion noting that exploration astatine ‘Pegasus’ had been a success.

In a connection to the media, pursuing the gathering betwixt Christodoulides and the Vice President of ExxonMobil, successful New York, Letibiotis said that “it was a precise important meeting, during which ExxonMobil’s Vice President John Ardill briefed the President of the Republic connected the archetypal findings of the latest drilling successful ‘Pegasus’. According to the preliminary information earlier them, combined with ‘Glaucus’, the magnitude of gas, the vice president said, could magnitude to 8 to 9 trillion cubic feet. This is precise affirmative news, precise affirmative signals from ExxonMobil.”

Mr. Letibiotis said that the President of the Republic of Cyprus conveyed to Mr. Ardill, connected the 1 hand, his restitution for the practice with the institution truthful acold and for its enactment successful the Cypriot EEZ, and connected the different hand, the connection from the Cypriot authorities to velocity up the extraction arsenic soon arsenic possible, to exploit the earthy wealthiness of the Cypriot EEZ, with the superior objective, of course, the affirmative interaction connected vigor costs for Cypriot consumers.

“The quality is positive, we stay committed to the implementation of the vigor program and the companies operating successful the Cypriot EEZ – ExxonMobil is 1 of the archetypal of them – are planetary giants whose beingness is besides a ballot of assurance successful the Cypriot EEZ,” helium said.

Asked whether the institution has informed however it volition determination to exploit these quantities, Letiviotis said that “of course, determination was a precise circumstantial discussion. In the contiguous future, the next, precise circumstantial actions are expected from the company’s side, with timetables, which volition beryllium acceptable successful presumption of implementing the indispensable actions truthful that the state tin beryllium exploited. It is 1 of the objectives that person been set.”