Friday May 29, 2015 Search
Weather | Athens
14o C
09o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Cyprus to licence ENI, Kogas for offshore gas search

Cyprus will issue licenses to a consortium comprised of Italy's ENI and South Korea's Kogas on Thursday for the exploration of hydrocarbons in three areas off the east Mediterranean island, its energy minister told Reuters.

"It is very important because we are moving ahead with development of our reserves," said Neoclis Sylikiotis, who is Cyprus's Commerce, Industry and Tourism Minister.

A signing ceremony was scheduled on Thursday morning, he said. Separate talks with France's Total which is also bidding for a license elsewhere were proceeding well and Sylikiotis said he hoped for a conclusion soon.

Cyprus, which reported its first natural gas find in Dec. 2011, hopes the prospect of sitting on sizeable reserves of natural gas will be a boon for its economy, struggling from its exposure to debt-crippled Greece.

Noble Energy says it has discovered between 5 and 8 trillion cubic feet (tcf) of gas in one offshore block. Thursday's signing ceremony with ENI and Kogas concerns another three blocks, two of which lie diagonally above the area where gas has already been discovered.

"There are very strong indications of gas, and possibly oil, in the area," said Sylikiotis.

The island is located in the resource-rich but largely untapped Levant Basin, where neighboring Israel has reported some of the world's largest natural gas finds of the past decade. [Reuters]

ekathimerini.com , Thursday Jan 24, 2013 (11:51)  
Next Greek aid program isn’t on table yet, says Moscovici
Hoteliers seek VAT solutions
Chaos in the system for tax declarations
Lenders’ first-quarter data suffer from NPL expansion
Greece creditors say no deal near as G-7 frustration vented
Greece’s creditors said a deal to unlock rescue aid isn’t imminent as they demanded the debt-ravaged nation make stronger commitments to overhaul its economy. The Greek government saw its op...
PM speaks to Merkel, Hollande as lenders increase pressure
With negotiations between Greece and its creditors at a critical phase, Prime Minister Alexis Tsipras on Thursday sought the assistance of German Chancellor Angela Merkel and French Presiden...
Inside News
SOCCER
Panathinaikos conquers PAOK through Tavlaridis goal
A Stathis Tavlaridis goal has brought Panathinaikos to practically within one point from clinching a spot in next season’s Champions League qualifiers, as the Greens made it three out of thr...
SOCCER
AEK Athens returns to top league after financial collapse
Greek club AEK Athens has just returned to the country's top soccer league, two years after financial collapse sent it to a lower league. One of the country's largest clubs, AEK sealed its s...
Inside Sports
COMMENTARY
Only Greece can end its miserable ´Groundhog Day´
In the film "Groundhog Day," Bill Murray is condemned to relive the same 24 hours on an endless loop. The happy ending (he gets the girl) only comes when he changes his destiny by becoming a...
COMMENTARY
FIFA and fair play
Greeks must be among the less excited observers of the ferocious crackdown on the highest echelons of global soccer’s administrative body, FIFA: from the lowest leagues to our top teams, fro...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Next Greek aid program isn’t on table yet, says Moscovici
2. Greece creditors say no deal near as G-7 frustration vented
3. Hoteliers seek VAT solutions
4. Chaos in the system for tax declarations
5. Lenders’ first-quarter data suffer from NPL expansion
6. Regional airport concession deal ‘to be sealed soon’
more news
Today
This Week
1. Greece creditors say no deal near as G-7 frustration vented
2. Only Greece can end its miserable 'Groundhog Day'
3. Next Greek aid program isn’t on table yet, says Moscovici
4. Endless confusion and worry
5. G-7 weighs in on Greece as Tsipras government told to be serious
6. ECB's Nowotny says no to loosening funding for Greece now
Today
This Week
1. Hotel contracts with a ‘Greek default clause’
2. Some 300 mln left banks on Tuesday
3. Neither Grexit nor a dual currency will solve Greece’s problems
4. No more 'quick and dirty' fixes for Greece
5. Romantic notions meet reality
6. Tsipras faces down radicals within SYRIZA over terms of deal
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.