EXPLORATORY drilling in Cyprus’ Exclusive Economic Zone (EEZ) has led to the discovery of traces of natural gas, though actual deposits are expected at a much greater depth, said Commerce Minister Praxoulla Antoniadou yesterday.
Speaking to the press, Antoniadou said hydrocarbon deposits are expected to be found at a targeted depth of 4,000 meters below the seabed, while so far drilling has reached a depth of 2,200 metres.
“In deep, at some stage of the drilling, traces of natural gas were discovered,” she said, noting that the deposits are not expected to be found at 2,200 metres below the seabed.
If no technical difficulties arise, US-based Noble Energy which is performing the drilling in Cyprus’ Block 12, and the government will get a first indication of whether deposits exist or not.
If natural gas deposits are found “two appraisal drillings will be made to determine the scope and composition of the deposits”, she said.
Asked to comment on a report in yesterday’s Phileleftheros that the drilling has come across layers of salt, the minister said the subsoil below the seabed changes as drilling progresses.
Antoniadou confirmed that Israeli companies have shown an interest in participating in hydrocarbon exploitation in Cyprus, adding that this was being evaluated.
Regarding Turkey’s accession negotiations and the possible opening of the energy chapter, the minister said if Turkey respects Cyprus’ sovereign rights emanating from the Law of the Sea, then this could pave the way for the opening of the chapter.
“And if we all see the way forward and not backwards, the discovery of hydrocarbons in Cyprus, if we are lucky enough, could open new prospects for all Cypriots but also for countries of the region,” she added.
Meanwhile, Egypt’s Foreign Minister Mohamed Kamel Amr assured his Greek counterpart Stavros Lambrinides on Wednesday that his country will respect the commitments it has undertaken in the context of the EEZ agreement signed with Cyprus.
Speaking after a meeting in Cairo with Lambrinides, Amr was asked whether Egypt will respect the agreement it has signed with Cyprus. He replied: “We respect every commitment we have undertaken, there is no doubt about that.”
Cyprus signed an agreement to delineate its EEZ with Egypt in 2003, Lebanon in 2007 and Israel last year. The Lebanese parliament has yet to ratify the agreement while reports suggest Turkey is pressuring both Lebanon and Egypt to rescind their agreements with Cyprus.
