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South’s drillship to resume hydrocarbon search

11 August 2015

The Saipem 10000 drillship arrived offshore Cyprus on Tuesday where it will resume drilling operations on behalf of South Cyprus’ ENI/KOGAS joint venture.

The vessel is just off the South’s Exclusive Economic Zone (EEZ) and more specifically in Bloc 11 which is under Egypt’s EEZ. Should the vessel have a successful strike, then it will only be 2.5 nautical miles off Cyprus’ zone and 75 nautical miles south east of the Amathousa Well and south of the Eratosthenis underwater mountain range.

Saipem 10000 is back and full operational having previously been through maintenance works after two operations on behalf of ENI in Cyprus’ EEZ.

ENI last year signed Exploration and Production Sharing Contracts with Cyprus, for Blocs 2, 3 and 9 located in the Cypriot deep offshore portion of the Levantine basin, which encompass an area of around 12,530 square kilometres, thus marking the entry of ENI in the country.

ENI was awarded the three blocks whilst leading a consortium formed by ENI (80%, as operator) and the Korean company Kogas (20%) in an international competitive tender (Cyprus Second Offshore Licensing Round) which was completed in May 2012.

Exploration rights for blocs 9 and 11 – which fall under the EEZ of Egypt – fall exclusively under the umbrella of ENI while the Cypriot portion of bloc 11 belongs to the ENI/KOGAS consortium. Eni holds an 80 percent stake in the bloc 9 and KOGAS holds a 20% stake.

The rights for the Egyptian bloc 8, which neighbour Cyprus’ bloc 11, belong to the ENI/BP consortium.

Total France found no hydrocarbons at its offshore Cyprus bloc in January but said it would continue with further exploration efforts.

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