Eni says exploration off Cyprus to start - July 10, 2016

Providing coverage of Alaska and northern Canada's oil and gas industryJuly 2016

Vol 21, No. 28

Week of July 10, 2016

Eni says exploration off Cyprus to start

The chief executive of Italian oil and gas company Eni says exploratory drilling off Cyprus’ southern shore will begin next year.

Claudio Descalzi said after talks with Cypriot President Nicos Anastasiades July 5 that drilling will “for sure” start in 2017.

Descalzi said the eastern Mediterranean’s gas potential is “becoming more and more important” following the recent discovery of significant gas fields in Egyptian and Israeli waters.

Eni has the rights to drill off Cyprus in three blocks, or areas. Eni last year discovered a gas field off Egypt that it called the biggest find ever in the Mediterranean Sea.

- Associated Press

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