The US State Department issued a statement concerning the discovery by the ENI-TOTAL consortium of large deposits of natural gas in Block 6 of the Cyprus EEZ. According to a State Department spokesperson, such a development will advance European energy security while strengthening the foundations for energy security throughout the region.
Commenting on ENI-TOTAL’s recent announcements and estimates to date on Block 6’s Cronos-1 deposit, the State Department spokesperson noted:
“We remain united with our Allies and partners in our commitment to advance European energy security, reduce our collective dependence on Russian energy and maintain pressure on Kremlin. US policy on Cyprus’ Exclusive Economic Zone (EEZ) is long-standing and has not changed,” he said.
Washington recognised the right of the Republic of Cyprus to develop resources in its Exclusive Economic Zone, he added.
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The Cronos-1 exploration well struck a gas column in a carbonate reservoir with “fair to excellent” properties, including more than 800 feet of net pay and intervals with “excellent” permeability.
“We believe that Cyprus’ oil and gas resources, like all its resources, should be shared fairly between the two communities. Resource development in the Eastern Mediterranean should promote cooperation and provide the foundations for sustainable energy security and economic prosperity across the region.”