French energy giant TOTAL applied to the Cyprus government to acquire a stake in block license 8 in the island’s Exclusive Economic Zone currently owned by Italy’s ENI.
According to Cyprus News Agency, ENI and TOTAL are partners in blocks 11 and 6. An exploratory well carried out in early 2017 in Kalypso target revealed a “promising discovery” but no data have been disclosed yet concerning the Kalypso`s reservoir size.
Cyprus Energy Minister Yiorgos Lakkotrypis told AP that Total’s move is “very significant”.
Source: Philip Chrysopoulos/greekreporter
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