New round of exploration licensing inside Cyprus’ EEZ

The Cyprus cabinet has given the green light for the opening of the third hydrocarbon exploration licensing round inside Cyprus’ Exclusive Economic Zone (EEZ).

Energy Minister Giorgos Lakkotrypis was authorized to table before the cabinet, the soonest possible, all necessary proposals towards implementation of the decision, the government spokesman announced on Tuesday.

Last week, Lakkotrypis said numerous energy companies had expressed interest in getting a license.

“What I can tell you is that those who showed more interest are the ones who have the geological data of our area and they can better understand what the Zohr discovery means for them,” the minister said.

Zohr is the name of the offshore field in Egypt where large natural gas reserves were discovered recently by Italy’s ENI.

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