Filenews 20 January 2025
Instructions to seafarers (Navtex) were issued on Sunday by the Republic of Cyprus in relation to the commencement of drilling at the "Electra" target, in block 5 of the Cypriot exclusive economic zone (EEZ).
According to the Search and Rescue Coordination Center (JRCC), Navtex entered into force from today, January 19, to June 19, 2025 with the drilling ship VALARIS DS-9 conducting the work.
Speaking to the Cyprus News Agency, the Minister of Energy, Commerce and Industry, George Papanastasiou, said that the drilling rig VALARIS DS-9 is located in Block 5 confirming that the said Navtex is related to drilling in Block 5 and specifically the "Electra" target.
Mr. Papanastasiou reminded that EXXON MOBIL is active in Block 5 in a joint venture with Qatar Energy.
Asked if there is a timetable for starting drilling, Papanastasiou said that this depends on the positioning of the drilling rig which should be set at the right coordinates with the target being in the center of the drill, which as the Energy Minister said also depends on weather conditions.
Mr. Papanastasiou estimated that there will be no need to exhaust the time limit provided by the issued Navtex for Plot 5. He added that the results of the drilling are expected to be known at the end of February, while at the end of March an official announcement will follow, after an evaluation, on the quantities of the deposit.
