Total presses on with Cyprus exploration
10 October 2016
Blocks and licence-holders in Cyprus’s offshore concessions.
Total has awarded a contract to set up an onshore base in the Cypriot port of Limassol to serve its exploration campaign in Block 11. It intends to start its offshore exploration programme, which involves drilling two to four wells, in April 2017.
The contract was won by EDT Offshore last week, and it will involve the Cypriot oil and gas service company providing onshore logistics services. The 18-24 month deal may be extended, Mike Socratous, a manager at EDT Offshore, told Interfax Natural Gas Daily. Socratous declined to say how much the contract is worth, but in-country sources say its value may be around €4-6 million ($4.5-6.7 million).
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