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Total plans to expand its presence in Cyprus

Total plans to expand its presence in Cyprus

23 May 2018 | A source: Finanz
Tags: Cyprus, Economy, Gas, Resources

The French oil and gas corporation Total expressed interest in expanding its presence in the exclusive economic zone of the Republic of Cyprus. This was reported on Monday by the Minister of Trade, Industry and Tourism of the island of Georgios Lakkotripis after the meeting of the President of the Republic of Cyprus Nikos Anastasiadis and the regional director of the French corporation Stefan Michel in Nicosia.

"We discussed the next steps in the hydrocarbon development program in Cyprus, and one of the most important aspects was the interest of Total in participating in the development of the 8 block of the exclusive economic zone of the island," the minister said.

However, Lakkotripis did not comment on the position of the Cypriot side on this issue. "We discussed the following steps. We are not ready to tell about something yet. We are discussing other issues that will be announced as they develop, "the minister stressed.

Based on the results of the third round of obtaining licenses for the development of hydrocarbons in the exclusive economic zone of the Republic of Cyprus, the consortium Eni and Total was awarded the right to conduct work on the 6 block, the Eni block to the 8 block, the 10 to the consortium Exxon Mobil and Qatar Petroleum.

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