Middle East & Africa Economic overview

March 2018

Tensions between Turkey and Cyprus will remain an obstacle to the exploitation of Cypriot offshore gas resources.

Eni has so far failed to make progress on its planned drilling campaign in the Cuttlefish prospect in Block 3 offshore Cyprus after the Turkish Navy twice blocked a drillship commissioned by the Italian major from reaching the area last month. The vessel has now sailed to Morocco for its next job. Although Eni has not relinquished the Cuttlefish acreage, the drilling plan has certainly been postponed until a...

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