ENI/Kogas Secure Deal For Cyprus Offshore Gas Exploration
Cyprus has awarded an exploration license to an Italian/Korean joint venture. Under the agreement, which covers an area of 12,530 sq km in Cyprus’ offshore blocks 2, 3 and 9, Italy’s ENI and Korea’s Kogas will drill both exploration and appraisal wells within a period of three years, with all exploration costs paid by the partners. ENI, holding 80% of the joint venture, will...
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