Cypriot authorities remain upbeat on the country’s chances of finding offshore gas riches in the coming months despite Total’s failure to find commercially viable quantities. Next door, the deadline for Lebanon’s recent bid round has been delayed.

The first of six deepwater wells planned offshore Cyprus by end-2018 has failed to discover commercially viable quantities of gas, Cypriot Energy Minister Giorgos Lakkotrypis told a press conference on 12 September. Though...