Energy giants ENI/Total have confirmed a natural gas and oil reservoir in Block 6, aka the Calypso field, within Cyprus’ Exclusive Economic Zone (EEZ), said the Energy Ministry.
The well is 3,827 meters deep and stems back to the Cretaceous age, 145.5 million years ago.
“The Cretaceous sequence has excellent reservoir characteristics,” said the ministry in a statement.
The find is similar to the Egyptian “Zohr” reserve. It is not yet known how much natural gas is in the reserve and further extensive tests are needed, said the ministry.
Commenting on the development, Energy Minister George Lakkotrypis said that it is positive in spite of Turkey’s threats towards the energy companies exploring for Cyprus’ offshore reserves. Turkey’s threats have been noticed by the corporations and their countries, he said, adding that such tensions must be avoided.