Eni’s CEO Paolo Scaroni, and COO of Exploration & Production Claudio Descalzi, met with Cyprus President Nicos Anastasiades in the town of Nicosia today (July 11) in order to discuss the Italian explorer’s current and future local projects.
Reuters reports that Scaroni announced plans to launch exploratory drilling in one of Eni’s offshore blocks next year, telling reporters following a meeting with Anastasiades, "We are focused on gas, and we believe it is gas, but it might very well be oil as well.”
Eni holds 80% participating interest in Blocks 2, 3, and 9 in the Cyprus’ portion of the Levantine basin. Eni’s partner, KOGAS, holds the remaining 20%. The acreage, which encompasses 12,530 sq km, was awarded to the consortium back in January following Cyprus’ second offshore round in May 2012.
The blocks are Eni's first foray into Cyprus, which the company called a 'strategic area' in its production portfolio.
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