Eni, Total join for another gas search license off Cyprus

NICOSIA, Cyprus — Cyprus' energy minister says a consortium composed of energy companies Total of France and Eni of Italy has been licensed to explore for natural gas deposits in another area off Cyprus' southern coast.

Georgios Lakkotrypis says the two companies have an equal share in a new block into which a gas deposit that Eni discovered in an adjacent block last year is believed to extend.

Lakkotrypis said that Total also gains a share in four of Eni's concessions inside Cyprus' exclusive economic zone. Korea's Kogas is also a partner in three of the four concessions.

With Wednesday's signing, Eni and Total now hold exploration licenses for seven of Cyprus' 13 blocks. ExxonMobil and a partnership between Texas-based Noble Energy, Dutch Shell and Israeli Delek hold a license each.

People also read these

Wolff and Lauda renew Mercedes F1 contracts to...

Feb 20, 2017

US-MOTOR-F1-MERCEDES-CONTRACTS:Wolff and Lauda renew Mercedes F1 contracts to 2020

Iran's enriched uranium stock halves after...

Feb 24, 2017

US-IRAN-NUCLEAR:Iran's enriched uranium stock halves after flirting with limit: IAEA

Tennis: Carreno Busta downs Norwegian teen to...

Feb 26, 2017

US-TENNIS-MEN-RIO:Tennis: Carreno Busta downs Norwegian teen to reach Rio final

Austria's foreign minister suggests halving...

Mar 1, 2017

US-EUROPE-AUSTRIA:Austria's foreign minister suggests halving number of EU commissioners

Turkish media mogul Dogan summoned to court over...

Mar 1, 2017

US-TURKEY-MEDIA:Turkish media mogul Dogan summoned to court over fuel smuggling

Sign up now!

About Us

The Market Noise is the first place to look when you need financial and economic insights. We deliver the most accurate news in the business and marketing world to you.