Cyprus will know by the end of 2018 if it has exploitable offshore gas reserves after several more test drills are carried out, the island's Energy Minister George Lakkotrypis said Monday.
"Over the next 12 months, we expect to have either four or five drills, which will be extremely important going forward," Lakkotrypis told a parliamentary committee.
"At theRead more
US giant ExxonMobil with Qatar Petroleum (QP) on Wednesday signed a license to explore for oil and gas off the coast of Cyprus, and they expect to start drilling next year.
The venture was selected as part of the island’s third licensing round to explore block 10.
Cyprus Energy Minister George Lakkotrypis described as “immense” the firms’ presence in hisRead more