Total to Search for Hydrocabons in Cypriot Blocks 10 & 11

French oil major Total today signed exploration and production sharing contracts with the Ministry of Commerce, Industry and Tourism of the Republic of Cyprus.

Under the agreement, the oil company will be free to search for hydrocarbons in Cyprus’ offshore blocks 10 and 11.

The oil & gas industry has recently shown significant attention to the Levantine Basin as it is one of the newest exploration frontiers with enormous gas potential.

Italy’s oil company Eni, and South Korea’s KOGAS recently received the rights to search for oil and gas in Blocks 2,3 and 9, located in the Cypriot deep offshore portion of the Levantine basin.

[mappress]
Offshore Energy Today Staff, February 6, 2013