Cyprus issues Navtex for drilling in EEZ Block 5

07:39 - 20 January 2025

Economy Reporter

The Republic of Cyprus has issued a navigational warning (Navtex) regarding the commencement of drilling at the "Electra" target, in block 5 of the Cyprus Exclusive Economic Zone (EEZ).

According to the Joint Rescue Coordination Center, JRCC, the Navtex is in effect from 19 January until 19 June, 2025, with the drillship VALARIS DS-9 conducting the operations.

Speaking to the Cyprus News Agency, Minister of Energy, Commerce, and Industry, George Papanastasiou, stated that the drill ship VALARIS DS-9 is located in Block 5, confirming that the Navtex is related to drilling in Block 5 and specifically the target "Electra."

Papanastasiou reminded that EXXON MOBIL is operating in Block A in a joint venture with Qatar Energy.

Asked whether there is a timeline for the start of drilling, Papanastasiou said that it depends on the positioning of the drill ship, which must be set at the correct coordinates with the aim of being at the center of the drill, something that, as the Minister of Energy said, also depends on the weather conditions.

He estimated that the time frame provided by the issued Navtex for Block 5 will not need to be exhausted. He added that by the end of February, the results of the drilling are expected to be known, and by the end of March, an official announcement will follow, after evaluation, regarding the quantities of the deposit.

(Source: CNA)

Cyprus issues Navtex for drilling in EEZ Block 5

News Feed

Read More