REPORT: What progress has Cyprus achieved in oil and gas sector?

Bassam Abou Zeid Author: Bassam Abou Zeid
Breaking Headlines
2017-12-13 | 15:11
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REPORT: What progress has Cyprus achieved in oil and gas sector?
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REPORT: What progress has Cyprus achieved in oil and gas sector?

Cypriot officials expect that Cyprus will begin extracting gas from wells in the exclusive marine economic zone in 2020.

These officials revealed that Total Company discovered in the wells it drilled enough quantities that can be a start for the commercial process for this sector in Cyprus.

 

This comes as drilling in two other wells by French Total Company and Italian ENI Company did not have positive results.

 

The exploration efforts for oil and gas in Cyprus will double during the first half of 2018, with the joining of Qatar Petroleum and ExxonMobil to the commercial processes in Cypriot waters.

 

 

For more details, watch the full report in the video above

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Cyprus

Oil

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