Tuesday, March 7, 2017

ExxonMobil and Qatar Petroleum the new entrants in Cyprus' EEZ

George Lakkotrypis, the Cypriot Minister of Energy, tweeted "Significant developments in #Cyprus oil & gas. Shaping a new picture in Cyprus #EEZ and impacting the potential of the #EastMed as a whole."

The map seen here which accompanied the tweet shows the licensees at the successful conclusion of the negotiations pertaining to Cyprus' 3rd licensing round.

New entrants are ExxonMobil and Qatar Petroleum in block 10. ENI, already present in the Cypriot EEZ, picks up blcoks 6 and 8, the former in an alliance with Total.

In a separate development, block 11 was farmed out with the block's rights now shared by ENi (50%) and Total (50%).