Exploration & Production

Cyprus seeks IOCs to explore Block 7

The offshore block is in an area disputed with Turkey, but Ankara is unlikely to repeat its tactic of direct confrontation The offshore block is in an area disputed with Turkey, but Ankara is unlikely to repeat its tactic of direct confrontation.
By Verity Ratcliffe 5 October 2018 0 32795
A Turkish frigate in the Mediterranean Sea in 2015. (PA)

Cyprus has invited bids to explore Block 7, which lies in the part of its exclusive economic zone (EEZ) claimed by Turkey. The move has drawn Ankara’s ire, but Turkish warships are unlikely to be deployed to the area again.

Block 7 lies adjacent to Block 6, where Eni made its Calypso 1 lean gas discovery in February. Cyprus’s cabinet decided to invite bids on Wednesday because of “very specific geological reasons” relating to the Calypso find.

Only companies that already hold licences to explore in Cyprus’s...