CyprusProfile.com asked Andy Varoshiotis, President of Cyprus Oil & Gas Association (COGA), to describe the current situation with Cyprus’ energy sector and what his expectations are for 2017.
“The East Mediterranean is undergoing some of the world's most accelerated exploration and development programmes. Total's exploration program in 2017 in Cyprus’ EEZ will rebuild momentum, followed by ENI's exploration and Noble's development plans. The midstream sector in Cyprus has many opportunities for profitable growth. It is of great importance that the exploration companies have a permanent logistics support base for their regional operations. We believe that new hydrocarbons findings and the new mega players that entered the Cypriot blocs, such as Exxon Mobil, will regenerate significant investment interest and Cyprus will be at the forefront of regional developments”.