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| The Karadeniz powership,Fatmagul Sultan, one of two providing electricity to Lebanon |
Abboud Zahr
The Council of Ministers recently approved the selection of winners in the third oil and gas round, which comprises Blocks 6, 8 and 10 in Cyprus’ exclusive economic zone (EEZ). Development of the blocks could determine the future of Cyprus’ hydrocarbons development programme.
US energy giant ExxonMobil and Qatar Petroleum filed the winning bid for Block 10, and the joint-venture of ENI and Total won Block 6. ENI also won Block 8 on its own.
Cyprus announced its third oil and gas round a year ago, after the discovery of Zohr, a giant gas field off the coast of Egypt with gas reserves of 30 trillion cubic feet (tcf), the largest ever natural gas find in the Mediterranean. The companies are hoping to find fields of a similar – or larger – size in Cyprus’ EEZ.
The Council of Ministers recently approved the selection of winners in the third oil and gas round, which comprises Blocks 6, 8 and 10 in Cyprus’ exclusive economic zone (EEZ). Development of the blocks could determine the future of Cyprus’ hydrocarbons development programme.
US energy giant ExxonMobil and Qatar Petroleum filed the winning bid for Block 10, and the joint-venture of ENI and Total won Block 6. ENI also won Block 8 on its own.
Cyprus announced its third oil and gas round a year ago, after the discovery of Zohr, a giant gas field off the coast of Egypt with gas reserves of 30 trillion cubic feet (tcf), the largest ever natural gas find in the Mediterranean. The companies are hoping to find fields of a similar – or larger – size in Cyprus’ EEZ.
