Cyprus’ Energy Ministry confirmed on 14 April that US major ExxonMobil’s Block 5 Elektra well, while returning “encouraging results, confirming the existence of a hydrocarbon system and good quality reservoirs” ultimately only indicated “the presence of natural gas in non-commercial quantities.”
The news was picked up by local and international press following initial MEES reports ((MEES, 11 April). “The ‘Valaris DS-9’ drillship, which carried out the drilling operations, will now move to Block 10 of the EEZ of Cyprus to conduct exploration drilling at the ‘Pegasus-1’ well site,” the ministry says. (CONTINUED - 402 WORDS)
