A new round of natural gas exploration offshore Cyprus is due to begin in mid-September with Italy’s Eni set to kick-off the first of four wells planned across its three concessions (Blocks 2, 3 and 9 – see map). Eni has an 80% stake in the concession and Korean state-owned firm Kogas holds the rest.
Eni has committed to drill “at least four exploratory wells,” Cyprus Energy Minister Giorgos Lakkotrypis says. The exploration campaign will last 12-18 months, depending on initial results. Drilling was originally set to start in November, but was advanced following discussions with the Energy Ministry. (CONTINUED - 661 WORDS)