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    Cyprus to focus on Aphrodite following Total news

Summary

Cyprus’ government confirmed Total’s intention to “depart,” while announcing that the result of the exploration of the Aphrodite field should soon be available.

by: Sergio

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Natural Gas and LNG News, News By Country, Cyprus, East Med Focus

Cyprus to focus on Aphrodite following Total news

Cyprus’ government confirmed Total’s intention to “depart,” while announcing that the result of the exploration activities of the Aphrodite field should soon be available.  

“As Mr Omirou has said, we had a very good discussion. I briefed him, exactly, on the reasons, for which Total intends or is searching its options to depart from Cyprus’ EEZ. The reasons are geological, geonatural and financial, and, of course, we exchanged views for the next steps in our activities” Minister of Energy, Commerce, Industry and Tourism, Yiorgos Lakkotrypis commented. 

Lakkotrypis also said that the country will focus on the Aphrodite field.

‘Mr Lakkotrypis said that we focus on the exploitation in “Aphrodite” field, while the exploratory activity in field 9 is also in progress, expecting the results within the next weeks’ reads a note released on Thursday.  

The Acting President of Cyprus Yiannakis L. Omirou made a comparison with Norway and Israel, to stress that repeated seismic and exploration campaigns are needed to reveal the potential of the Exclusive Economic Zone of Cyprus.  

‘Also, the fact should be taken into account that, in the international oil market there was a price fall, which affects all companies, not only Total, but all the transnational companies that conduct seismic researches and drillings for natural gas and oil’ reads the communiqué.

Omirous said that the country is already under the radar of companies, and countries for its resources, adding that the Aphrodite field would itself be enough to cover the energy needs of the country “for a long period,” while leaving open doors to export opportunities. 

‘The most important is –and should be clear for everybody- that Cyprus is already in the energy map, and this means a lot, geostrategically, geo-economically and geopolitically. It reinforces the strong foothold of the Republic of Cyprus in political and strategic level. It enhances the potentials for strategic cooperation with the countries of the region.’