Total and ENI set to expand their presence in Cyprus’ EEZ, according to government sources

Energy giants Total and ENI are set to expand their presence in the exclusive economic zone (EEZ) of the Republic of Cyprus, and according to government sources they are expected to cooperate in hydrocarbon activities in offshore block 7.

With official announcements on the matter still pending, the same sources told CNA that the French and Italian energy companies may also cooperate in other blocks, in Cyprus’ EEZ. Discussions are being held on multiple levels, with talks between experts still underway, the same sources said.

Last November, the Ministry of Energy announced that it received a single application from joint venture Total E and P Cyprus B.V. / Eni Cyprus Limited, for a license to carry out explorations for hydrocarbons in block 7 of Cyprus’ EEZ.

Foreign Minister Nikos Christodoulides said on Thursday that developments should be expected in the next few days, concerning the energy program of the Republic of Cyprus. A day before, the Foreign Minister concluded a visit to the French capital, where he had meetings on a political level. He also met with TOTAL Deputy Director of North Africa and Middle East Elias Kassis, with whom he discussed the companys future plans in Cyprus EEZ, both in relation to drilling targets and new blocks in Cyprus EEZ.

Asked about the course of negotiations regarding the licensing of block 7 in Cyprus’ EEZ, President of Cyprus Nicos Anastasiades replied on Friday that anything there is to be announced, will be announced on time.

Regarding Thursday’s bilateral meeting between President Anastasiades and President Macron, on the sidelines of the informal European Council, in Romania, government sources said that the discussion centered around the forthcoming cooperation with the French side, in the framework of PESCO.

Source: Cyprus News Agency