Government to Hold Meetings With Energy Companies

20:46 - 05 Ιουλίου 2016

GoldNews

Starting this week, President Nicos Anastasiades and Energy Minister Giorgos Lakkotrypis will hold a round of meetings with energy companies in a bid to promote the third oil and gas licensing round, according to the Cyprus Business Mail.

July 22 is the deadline for expressions of interest in the third licensing round. The acreage opened up for bidding are Blocks 6, 8 and 10 in the island’s Exclusive Economic Zone (EEZ).

Speaking to the public broadcaster, Lakkotrypis said he was headed to London, where on July 6 he will be seeing representatives of energy companies. Later in the week he will fly on to Houston, Texas for similar meetings.

Media are speculating that the companies which have so far expressed an interest – without this meaning that they will submit offers – include ‘new and old players’ in the Cypriot EEZ.

French giants Total and Italy’s ENI are said to have requested updated geological data. An unnamed Russian energy outfit has reportedly done the same.

Total currently has an exploration licence on Block 11. ENI has licences on Blocks 2, 3, and 9.

The ‘prize’ appears to be Block 10, which lies near the border of Egypt’s EEZ and in close proximity to the massive Zohr find.

Neighbouring Israel has also been busy. According to Israeli news outlet Globes, the country’s Ministry of National Infrastructures, Energy and Water Resources is set to publish 60 new oil and gas licences, ending four years in which the country’s economic waters have been closed for offshore energy exploration.

Government to Hold Meetings With Energy Companies

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