BUSINESS

ExxonMobil exec says 'happy' to be in Cyprus for gas drilling

TAGS: Business, Energy, Cyprus

ExxonMobil is aware of the particular geopolitical situation in the region of Cyprus, Tristan Aspray, the company’s vice-president for Exploration in Europe, Russia and the Caspian, said during an investment forum hosted by the Cyprus Investment Promotion Agency at Bloomberg's European headquarters in London on Friday.

Asked about Turkey’s threats towards Cyprus for the planned drilling by an Exxonmobil-led consortium this autumn, Aspray said existing problems are a matter to be resolved by the governments in question.

“We are happy to be in Cyprus,” he said, adding his company is at the final stages of preparation for the two exploratory drills in Block 10, located southwest of the island.

Asked by Greek broadcaster SKAI when drills will start, he reiterated that they are planned for the last quarter of the year, but didn’t provide a specific date.

Turkey has repeatedly warned it would stop international oil companies from drilling for gas in Cyprus’ exclusive economic zone, claiming it should receive a share of any potentially lucrative findings.

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