articles | 12 June 2014

Energy Minister meets ENI officials

The Energy Minister has discussed the way forward on hydryocarbons exploration in Cyprus’ Exclusive Economic Zone with three of ENI’s vice chairmen who were on the island recently.

Sources told the Cyprus News Agency that the meeting in Nicosia also focused on cooperation programmes between ENI and Cyprus, as the Italian energy giant is expected to begin exploration activities by the end of summer.

An ENI/KOGAS consortium has been awarded exploration contracts over Cyprus’ offshore blocks 2, 3 and 9.

According to the same sources, the visit of US Vice President Joe Biden, and his statements about Cyprus being a strategic partner in the region were seen as a vote of confidence.

Meanwhile, an Israeli high-ranking official is expected to visit Cyprus soon and announcements are anticipated to be made concerning energy.

So far, Cyprus has signed contracts with US Noble Energy on block 12, while contracts have also been signed with French energy giant TOTAL on blocks 10 and 11.

Italian heavyweight ENI and KOGAS were given concessions over block 2 and 3 and 9. Exploration activity in block 12 revealed an estimated gross mean resources of 5 trillion cubic feet.

Source: Cyprus Mail

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