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    Egypt’s Zohr ‘linked to Cyprus’ - Minister

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Summary

Cyprus energy minister Giorgos Lakkotrypis said on March 2 that gas in the 30 trillion ft3 Zohr gas discovery offshore Egypt may have originated from the ‘Eratosthenes seamount’ formation inside Cyprus

by: Mark Smedley

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Natural Gas & LNG News, Corporate, Exploration & Production, Political, Ministries, Licensing rounds, East Med Focus, News By Country, Cyprus, Egypt

Egypt’s Zohr ‘linked to Cyprus’ - Minister

Cyprus energy minister Giorgos Lakkotrypis said on March 2 that gas in the 30 trillion ft3 Zohr gas discovery offshore Egypt may have originated from the ‘Eratosthenes seamount’ formation inside Cyprus’s Exclusive Economic Zone (EEZ) and migrated to Zohr over millions of years.

He was speaking to local press in Nicosia two weeks after his government launched Cyprus’ third offshore licensing round, amid signs that low oil prices are deterring some explorers.

Cyprus Mail quoted the minister saying: “Developments with Zohr impart a new dimension onto these blocks’ potential.” The newspaper said the Eratosthenes formation covers parts of Cyprus blocks 8, 9, 10 and 11, and that Zohr is 6km from block 11 and 90km from the Aphrodite gas find in block 12.

Eni was cleared by Egypt to develop the giant Zohr field in February 2016, just seven months after its discovery. In January 2016, BG – now part of Royal Dutch Shell – took a 35% stake in Noble’s Cyprus block 12, leaving operator Noble with 35%; the same month  Eni and South Korea’s Kogas took a two-year extension of their Cyprus blocks 2, 3 and 9. France’s Total holds block 11.

Noble too has interests in large Israeli offshore gas discoveries, with Leviathan the closest to the Cyprus EEZ.

When the Zohr was announced in September, Lakkotrypis said that Cyprus would investigate if Zohr extends into Cyprus, and Cyprus Mail also pondered at the time if it might be linked to Total or Noble’s blocks.

Natural Gas Europe invited the energy ministries in Nicosia, Tel Aviv and Cairo as well as Eni, Total and Noble to comment on Lakkotrypis’s remarks but none responded.

Cyprus Mail also said that state Cyprus Hydrocarbons Company has tendered for a consultancy to advise on how to monetise existing and future Cypriot reserves; the contract is capped at €6.5mn.

 

Mark Smedley