ExxonMobil takes block 10 in Cyprus' EEZ

Block 10 was awarded to ExxonMobil Exploration and Production Cyprus (Offshore) Limited / Qatar Petroleum International Upstream O.P.C. during a recent cabinet decision regarding the third licencing round for hydrocarbon exploration.

Bringing the third licensing round one step closer to completion and taking into account Energy Minister, Giorgos Lakkotrypis’ recommendations as well as the preparatory report of the technical Advisory Committee on Hydrocarbons, the cabinet has chosen the following applicants for negotiations on the terms and provisions of the contracts:

Block 6: Eni Cyprus Limited / Total E&P Cyprus B.V.
Block 8: Eni Cyprus Limited
Block 10: ExxonMobil Exploration and Production Cyprus (Offshore) Limited / Qatar Petroleum International Upstream O.P.C.

The cabinet has appointed a team, led by Lakkotrypis and Finance Minister, Harris Georgiades, to negotiate contract terms and provisions with the selected applicants. If negotiations are successful, and provided that the agreed contract per individual block is approved by the cabinet, Hydrocarbon Exploration Licenses shall be granted. Otherwise, the runner-up applicants will be invited for negotiations

Source: InCyprus