NICOSIA, Cyprus – Cyprus’ energy minister says exploratory drilling off the island’s southern shore has shown indications of a potentially sizeable gas deposit.
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Yiorgos Lakkotrypis said Thursday that drilling by a consortium made up of Italy’s ENI and France’s Total has found an “extended column of pure natural gas” at a depth of 3,800 meters (12,500 feet) beneath the sea bed.
The geological structure of the well is similar to the massive “Zohr” field in nearby Egyptian waters.
Lakkotrypis said more drilling is needed to determine the deposit’s size.
But he said this bodes well for other companies like ExxonMobil that are licensed to drill in waters off Cyprus because this well confirms that the geological make-up of the area is similar to that of Zohr.
