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South grants third round of exploration licences to international energy companies

South grants third round of exploration licences to international energy companies

March 19
14:04 2017

The Greek Cypriot Council of Ministers has been notified of the signing of a contract with the companies that won the third round of hydrocarbon exploration licenses for blocs 6, 8and 10 in the “Exclusive Economic Zone (EEZ)” declared unilaterally by Southern Cyprus.

According to Greek Cypriot daily ‘Simerini’, Energy Minister Giorgos Lakkotripis said details will be announced very soon after the Ministerial Council announced the date of signing the contract with the Exxon Mobil-Qatar Petroleum consortium, ENI and ENI-Total, on April 5 and 6.

Upon reminding that the ENI authority mentioned the possibility that a gas field similar to the Zohr in Egypt could be found in the “EEZ”, Lakkotripis stated that it was topped with the approval of the Banks Board.

Lakkotripis said that the signing of the contracts would give the South Cyprus state103.5 million euros.

Referring to drilling, Lakkotripis explained that besides the seismic survey in bloc 11, ENI is planning two drilling operations but it is not clear in which blocs.

Lakkotripis stated that they are aiming at drilling in bloc and having at least two more test drilling done before the end of the year.

Asked if there were concerns about any negative response from the Turkish authorities to the planned drilling operations, he said he wanted to disregard geopolitical provocations and stick to their goals.

Yeni Duzen

 

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