The President of the Republic, Mr. Nikos Christodoulides, held a meeting today, September 23, in the afternoon, with Mr. John Ardill, Vice President of Global Exploration at ExxonMobil.
During the meeting, which took place in New York, they reviewed the Republic of Cyprus’s cooperation with ExxonMobil and discussed the next steps for developing the “Glafkos” and “Pegasus” in Block 10 of the Cypriot EEZ.
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The President of the Republic expressed his satisfaction with ExxonMobil’s successful presence in the Cypriot EEZ and noted that the declaration of the two discoveries as commercially viable represents a significant milestonethat now paves the way for moving on to the next phase.
In this context, President Christodoulides emphasized that the Republic of Cyprus’s priority is to advance the development of the discoveries as quickly as possible. He also stressed the importance of maintaining the momentum that has been built and expediting the evaluation of available development options, with the aim of submitting the Development and Production Plan as soon as possible and advancing the necessary procedures toward a Final Investment Decision.
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The President of the Republic also emphasized that the development of domestic natural gas reserves is a key priority of the Republic of Cyprus’s energy strategy, adding that their development can further strengthen Cyprus’s role in the Eastern Mediterranean and contribute to Europe’s efforts to enhance energy security and diversify of energy sources and supply routes.
President Christodoulides reiterated the Republic of Cyprus’s commitment to close cooperation with ExxonMobil, which he described as an important long-term strategic partner, with the aim of translating the successes of exploration activities into concrete development and production projects.
