“Hot” fall in Eastern Mediterranean: Total & ENI agree on joint Cypriot EEZ surveys

5 June 2018
1105 Views

French Total and Italian ENI are examining the possibility of expanding the between them co-operation in an effort to spot new potentially important natural gas deposits in the EEZ of the Republic of Cyprus.

Their joint course in field 8 of the Cypriot EEZ has been finalized, with each side having secured a 50% share, while Total seems to be negotiating with the U.S. leadership about the possibility of exempting it from the sanctions being re-imposed on Iran.

By fostering the French presence in the Eastern Mediterranean, hydrocarbon exploration in the Republic of Cyprus’s EEZ, following the fruitless attempts to locate new gas reserves and the disappointment that followed, have a different aura now, while Ankara is closely monitoring developments in the region.

According to information, the French-Italian co-operation seems to be expanding further and will include plot 3, that is, the cause of the Turkish provocation in February when, with Ankara’s command, warships hampered the drilling rig of ENI, “Saipem 12000″, to approach the area.

The two European companies are expected to proceed with drillings on plot 8 next autumn. At the same time, U.S. Exxon Mobil has also planned to do its own on site 10.

At an informative session of the Committee on Commerce headed by the Cypriot Minister of Energy, George Lakkotrypis, that was held in Nicosia, the commercial exploitation of the “Aphrodite” deposit, which is located on plot 12 of the Cypriot EEZ was raised, too.

The prospects appear to be positive since it was pointed out that the whole effort is at the final stage.

The aim is to complete the dialogue with the companies in the next few weeks, despite Turkey’s general threats, and the deal with Israel, which claims 10 billion cubic metres of natural gas out of the 100 billion cubic metres of natural gas, according to estimates, of the “Aphrodite” deposit, as this latter is, from a geological point of view, a continuation of the Yishai field, which is within the Israeli EEZ.

You may be interested

The first Aegean Hawk S-70 helicopter was delivered to the Hellenic Navy by Aeroservices
GREECE
shares36 views
GREECE
shares36 views

The first Aegean Hawk S-70 helicopter was delivered to the Hellenic Navy by Aeroservices

Panos - May 07, 2021

The first upgraded Aegean Hawk S-70 helicopter was delivered to the Hellenic Navy today, Thursday 6 May. The work on…

Foreigners looking to buy Greek property amid Covid-19 pandemic
FINANCE
shares46 views
FINANCE
shares46 views

Foreigners looking to buy Greek property amid Covid-19 pandemic

Panos - May 07, 2021

Despite the pandemic, the demand for a permanent holiday home in selected destinations in Greece by foreigners is on the…

Greek Taxisnet services not available for citizens over weekend
FINANCE
shares42 views
FINANCE
shares42 views

Greek Taxisnet services not available for citizens over weekend

Panos - May 07, 2021

Online services on the Taxisnet platform system will not be available to taxpayers over the weekend due to scheduled upgrading.…

Leave a Comment

Your email address will not be published.