Cypriot Gas Field Confirmed, Size Not Known

YERUSHALAYIM -

The major energy developers, Eni of Italy and Total of France, say they have discovered a “promising” gas reservoir about 60 miles from the southern coast of Cyprus, Globes reported on Sunday.

The announcement confirms reports in the Cypriot media a week ago of a medium-to-large size deposit in the area. However, the size of the discovery will require further tests to determine.

“Additional studies will be carried out to assess the range of the gas volumes in place and define further exploration and appraisal operations,” Eni said. The reservoir is located in Block 6 Offshore Cyprus with Calypso 1 NFW. The well was drilled in 3,200-feet deep water.

Eni’s announcement also stated that “Calypso 1 is a promising gas discovery and confirms the extension of the ‘Zohr like’ play in the Cyprus Exclusive Economic Zone (EEZ),” referring to the Zohr reservoir in Egyptian waters.

Egypt’s Eni SpA-operated Zohr natural-gas field, the Mediterranean’s largest offshore field, started production last December.

Oil minister Tarek El-Molla told Bloomberg that Zohr should enable Egypt to regain energy self-sufficiency and may eventually return to exports.

Egypt was forced to discontinue gas exports in 2014 to meet local demand and because sporadic sabotage on its main pipeline in the Sinai Desert disrupted shipments.