[ad_1]
NICOSIA — A consortium made up of power firms Eni of Italy and France’s Whole is expediting plans to develop pure fuel deposits off Cyprus following the invention of a 3rd area containing 2-3 trillion cubic ft of the hydrocarbon inside the identical licensed exploration space, the Cypriot power ministry stated Wednesday.
The ministry introduced the invention on the “Zeus-1” nicely some 162 kilometers (100 miles) inside Block 6 off Cyprus southern shoreline, at a depth of two,300 meters (1.42 miles).
The sector, containing a 105-meter (344-foot) column of fuel is positioned simply 5 kilometers (3 miles) west of the “Cronos-1” nicely the place the consortium introduced in August an estimated 2.5 trillion cubic ft of pure fuel.
The consortium made its preliminary fuel discovery in Block 6 in 2018 on the “Calypso-1” nicely, however hasn’t provided any estimates but as to its dimension.
The ministry stated the most recent discovery “reaffirms the promising potential of the world” as Cyprus appears to export the hydrocarbon amid an power disaster compounded by Russia’s struggle in Ukraine.
Cypriot Power Minister Natasa Pilides informed The Related Press on Monday that the quantity of fuel already found inside Cyprus’ offshore financial zone is conservatively estimated at 12-15 trillion cubic ft. Different firms additionally holding exploration licenses for blocks inside Cyprus’ unique financial zone embrace Chevron and companions Dutch Shell and Israeli NewMed in addition to ExxonMobil and companion Qatar Petroleum.
The Eni-Whole consortium holds by far probably the most concessions — 7 of 13 blocs that make up Cyprus’ zone.
Chevron, Shell and NewMed are creating the Aphrodite area, estimated to carry roughly 4.25 trillion cubic ft of fuel that’s anticipated to achieve markets by 2027.
There’s sufficient pure fuel within the east Mediterranean space for export till no less than 2050, in accordance with analyses by the East Mediterranean Gasoline Discussion board, a physique composed of Greece, Italy, Egypt, Cyprus, Israel, France, Jordan and Palestine.
[ad_2]
Source_link
