Cyprus signs contracts with Eni and Total on five EEZ blocks
Cyprus on Wednesday signed agreements with France’s Total and Italy’s Eni for exploration in block 7 of Cyprus’ exclusive economic zone (EEZ).
The contracts were signed at the energy ministry by Energy Minister Giorgos Lakkotrypis in Nicosia with representatives of the two companies in the presences of the ambassadors of France and Italy.
In July the cabinet announced that the Total-Eni consortium had been granted a license for exploratory drillings in block 7. Total was also granted a licence for blocks 2, 3, 8 and 9 where ENI is already a licensee.
For the block 7 license, the two companies have a share of 50 per cent each. In addition, Total will receive from ENI a share of 20 per cent for blocks 2 and 9, and 30 per cent for block 3, and 40 per cent for block 8.
You may be interested
Senior high schools across Greece to open on April 12Panos - Apr 08, 2021
Senior high schools across the country will open on April 12 with both students and teachers obligated to take Covid-19…
“Dear God, Please help me to hate White people”, writes African-American theology Prof. in prayer bookPanos - Apr 08, 2021
A seminary professor wrote a prayer in which she asks God to help her “hate White people.” Chanequa Walker-Barnes is…
Joint military exercise wth Greece, France, and CyprusPanos - Apr 08, 2021
A small-scale military exercise with the participation of Greece, France, and Cyprus, was conducted today, in the framework of the…