Home / Business / Local Business / ExxonMobil wants Cyprus to become energy centre

ExxonMobil wants Cyprus to become energy centre

ExxonMobil’s vision shared by Cypriots is to see the Mediterranean island becoming an energy centre, president of the US energy giant’s Exploration Company Steve Greenlee has said.

“Our vision, which I believe you all share, is for Cyprus to become an energy centre and we do hope to find enough quantities of natural gas – something that will set the foundations for Cyprus to become an energy exporter,” Greenlee said late on Thursday.

He was addressing a reception in Washington where Cyprus President Nicos Anastasiades who is on a working visit to the US was attending.

“We are getting quite active since signing our contracts back in April, we have started our research, and so far the state of play appears to be good. And we are happy for that,” he added.

Nicosia and the consortium of companies ExxonMobil and Qatar Petroleum have signed the exploration and production sharing contract for Block 10 of the Exclusive Economic Zone of the Republic of Cyprus.

The drilling of their first exploration is expected to take place within 2018.

Energy Minister George Lakkotrypis who was also attending the reception underlined the immense strategic significance of ExxonMobil’s and Qatar Petroleum’s presence in the EEZ of Cyprus.

 

Check Also

Unemployment rate drops to 10.6% in Q2

The number of people out of work in the second quarter of 2017 was 10.6% …

European Commission team looking at Larnaca Port concerns

The EP Committee on Petitions (PETI) is conducting a fact-finding mission in Larnaca between Wednesday …