Gulf Oil and Gas accountACCOUNT

Cyprus Approves Eni, Total, Exxon Offshore Block Deals

Source: Reuters 3/17/2017, Location: Europe

Share |
Cyprus's cabinet approved contracts with France's Total, Italy's Eni , Exxon Mobil and Qatar Petroleum to explore for oil and gas in offshore areas south of the island.

Exploring the Mediterranean's Levant Basin has become more attractive since Eni discovered Egypt's offshore Zohr field in 2015, the biggest gas field in the Mediterranean and estimated to contain 850 billion cubic metres of gas.

The Cypriot concessions cover exploration rights for three offshore blocks off the south and southwestern coast and contracts would be signed on April 5 and 6, Energy Minister Georgios Lakkotrypis said.

Eni and Total are in a consortium for one of the blocks and ExxonMobil and Qatar have joined up for another. Eni will be on its own in a third block. The blocks were offered in the third licensing round held by Cyprus.

Total, which won rights for another block in a previous licensing round, planned to conduct drilling this year in Block 11, which borders the Zohr discovery, Lakkotrypis said.

Eni said last week said it had finalised a deal with Total to buy a 50 percent interest in Block 11, with Total remaining the operator.

The Italian firm planned to drill twice this year, Lakkotrypis said. "Precisely what block has not yet been defined, that will be acertained with greater clarity by seismic data," he added.

Noble Energy of the U.S. made Cyprus's first natural gas discovery offshore in 2011.

Exploration News in Cyprus >>

Norway >>  6/21/2017 - The Ministry of Petroleum and Energy announces the 24th licensing round on the Norwegian Continental Shelf. The licensing round includes a total of 10...
Mexico >>  6/20/2017 - Eni has been granted 3 of 10 offshore blocks awarded by Mexicoís National Hydrocarbon Commission (CNH) in the Sureste Basin, in the Gulf of Mexico. Th...

Ireland >>  6/19/2017 - Europa Oil & Gas (Holdings) plc, the AIM traded, UK and Ireland focused, oil and gas exploration, development and production company, is pleased to an...
Russia >>  6/18/2017 - Russia's largest oil producer Rosneft said on Sunday it had found an oil field in the Laptev Sea in the eastern Arctic. 'The result of the drilling...

Mexico >>  6/16/2017 - Mexico is looking forward to its next round of offshore oil auctions on Monday with guarded optimism thanks to robust interest from oil majors for the...
Mongolia >>  6/15/2017 - Petro Matad, the Mongolia focussed oil exploration and future development and production company is pleased to advise that the Mongolian regulatory bo...

Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Transportation, 4X4 Trucks  Utility Systems  Water Supply Services  Welding Products/Services 


Cyprus Oil & Gas 1 >> 

More News

 

Oil & Gas Companies in Cyprus >>


Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Privacy Policy.