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| Saad Sherida Al-Kaabi (L), Andrew Swiger (C), Yiorgos Lakkotrypis (R) |
Cypriot concessions covering exploration rights within the island’s Exclusive Economic Zone (EEZ) have been ratified with the signing of the first contracts with an energy firm consortium on Wednesday.
The signings will continue on Thursday too.
Last month, the 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. The consortium will officially sign the contracts with the Cypriot government for exploration rights for three offshore blocks off the south and south-western coast.
Welcoming the Senior Vice President of ExxonMobil Corporation, Andrew Swiger, the President and CEO of Qatar Petroleum, Saad Sherida Al-Kaabi, and their associates, Energy Minister Giorgos Lakkotrypis said that Wednesday’s signing ceremony concluded the 3rd licensing round.
