Southern Cyprus Negotiates with Gulf Energy Firms for Natural Gas Licenses

Forex - The President of the Republic of Cyprus, Nikos Christodoulides, stated that energy companies from Gulf countries have expressed interest in exploring natural gas off the southern coast of Cyprus. Speaking at an energy conference in Nicosia, Christodoulides mentioned that Cypriot officials have held preliminary discussions with several unnamed companies regarding exploration licenses for some of the 13 areas or blocks within Cyprus's exclusive economic zone. These discussions involve potential partnerships with Italian Eni, French Total, ExxonMobil, and Chevron, which currently hold exploration licenses for 10 blocks. ExxonMobil and its partner Qatar Energy have concessions in two blocks, while Chevron has a partnership with Shell for one block, and a consortium made up of Eni and Total holds seven blocks. Christodoulides stated, "We are encouraging the participation of other companies and other energy giants. This is a vote of confidence in the potential of Cyprus's exclusive economic zone, but there are many other political and diplomatic dimensions as well."