She stated in an interview with the Associated Press (AP), published on Thursday, that this is currently the most likely option.
Pilides revealed on Wednesday that the drilling at ExxonMobil’s
The transferring will be made from ExxonMobil’s ‘Glaucus-1’ well inside block 10 of Cyprus’ exclusive zone, which is set to commence in 6-8 weeks, according to Pilides.
She also noted that well drilling will determine if the deposit is at the higher or lower end of its estimated size of 5-8 trillion cubic feet (equivalent to 142-227 billion cubic meters) of natural gas.
A higher confirmed quantity would naturally mean greater profits and in turn push exploitation of the deposit up the priority list for ExxonMobil and partner Qatar Petroleum among the different projects they’re currently working on, according to AP.
This will map out how the fuel will reach potential markets in Europe and Asia, said Pilides.