- Last week, Cyprus announced a huge natural gas find in Block 10, with ExxonMobil – together with Qatar Petroleum - estimating that the ‘world-class discovery' potentially holds up to 8 trillion cubic feet of natural gas.
- Coupled with the Block 10 discovery – and promising geology in Block 7, where an operator will be chosen this year - Cyprus may now re-look into the possibility of exporting its natural gas as LNG, rather than greenlighting an export pipeline to Egypt and the LNG plant plans there.
- Upstream operations in the Eastern Mediterranean have begun, with test drilling some 60km south of Antalya and plans to drill in areas closer to Cyprus on the assertion that some Cypriot blocks are part of Turkey's continental shelf.
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