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Big Oil Reserves Found in Disputed EEZ Off Cyprus

Big Oil Reserves Found in Disputed EEZ Off Cyprus

February 10
11:31 2019

US energy giant ExxonMobil has discovered a substantial and commercially viable oil reservoir in an area south-west of Cyprus, Greek daily ‘Kathimerini’ reported.

North Cyprus News - ExxonMobile Drilling platform
ExxonMobile Drilling Platform

The newspaper said that official results are due in from ExxonMobil next week. The discovery “follows uncertain indications over natural gas deposits in an earlier exploratory drilling at Delphyne-1 target” in the same area, Kathimerini reported.

ExxonMobil discovered the oil while drilling in bloc 10 of South Cyprus’ exclusive economic zone which has made energy agreements with Egypt, Israel and Lebanon.

Turkey disputes the rights of the Greek Cypriots to areas north of block 10, which it says fall within its continental shelf, and which North Cyprus has said it also has rights to areas around the island, including part of bloc 10.

Ahval