Cyprus Disappoints

A highly-anticipated deepwater well drilled by Italy’s Eni offshore Cyprus did “not yield exploitable quantities of hydrocarbons,” Cypriot energy minister Giorgos Lakkotrypis says.

However the firm is pressing on with exploration and plans to spud a second well on Block 9 are imminent, MEES understands.

Eni is contracted to drill a minimum of two exploration wells (and two further appraisal wells should any discovery be made) across its three offshore Cyprus blocks. Eni operates Blocks 2, 3 and 9 with an 80%; Korean state firm Kogas has 20%.

Texas-based Noble Energy, which operates the 5 tcf Aphrodite field Cyprus’ only discovery to date as well as being the key player offshore Israel (see p17), meanwhile appears to have shelved plans to undertake more exploratory drilling on its Block 12 concession in the first half of 2015. (CONTINUED - 335 WORDS)