Tags: APFN | EU | Cyprus | Drilling

ENI to Drill 2 Wells off Cyprus in Next 2 Months

Friday, 24 November 2017 08:41 AM

NICOSIA, Cyprus (AP) — ENI's top executive says the Italian oil and gas company will drill two exploratory wells off Cyprus over the next two months and is expressed confidence that significant quantities of the mineral can be found.

ENI CEO Claudio Descalzi described Cyprus as a "natural bridge" linking existing and potential gas deposits in the eastern Mediterranean with Europe, which is looking to diversify its energy sources amid increasing gas consumption.

Speaking after talks Friday with Cypriot President Nicos Anastasiades, Descalzi said ENI has a "strategic" interest in the region as waters around Cyprus remain largely unexplored.

He said Italy is in talks with Cyprus, Egypt and Greece to possibly create a new energy corridor to Europe.

Options include processing newly found gas at Egypt-based plants for export to Europe.

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ENI's top executive says the Italian oil and gas company will drill two exploratory wells off Cyprus over the next two months and is expressed confidence that significant quantities of the mineral can be found.ENI CEO Claudio Descalzi described Cyprus as a "natural bridge"...
APFN,EU,Cyprus,Drilling
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2017-41-24
Friday, 24 November 2017 08:41 AM
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