ExxonMobil plans to drill offshore Cyprus in Q3. Eni has a 1Q19 appraisal well lined up for January’s Calypso discovery. Drilling could prove crucial to Cyprus’ gas hopes.

A sense of anticipation surrounds planned Q3 drilling of US major ExxonMobil’s first ever well offshore Cyprus and the wider Mediterranean. To say aspirations of becoming a gas exporter, or even a regional hub, hinge on ExxonMobil’s success would be jumping the gun, but it could prove to be a...