Exploration & Production

Hope springs eternal in the East Med

The Cypriot government is putting a brave face on lacklustre offshore drilling results The Cypriot government is putting a brave face on lacklustre offshore drilling results.
By The Wildcat 15 September 2017 0 27589
Press conference announcing drilling results offshore Cyprus Cypriot Energy Minister Yiorgos Lakkotrypis announces the results. (PA)

“We’re not disappointed with this drilling,” Yiorgos Lakkotrypis, Cyprus’s energy minister, told reporters in Nicosia on Tuesday after hearing the disappointing news that the first well drilled in Block 11 did not make a commercially viable find. “It leaves us optimistic for the future,” he said. 

Despite the remarks of Lakkotrypis, the ministry likely had higher hopes than a find of “less than” 14.2 billion cubic metres. The drilling had garnered a huge amount of attention thanks to vocal opposition from Turkey towards Total’s plans to...