December 21, 2022
The Zeus-1 well encountered 105 meters of net gas pay in carbonate reservoirs that re-enforces the area’s promising outlook and development.
April 15, 2022
Russian tanker operator Sovcomflot PJSC is set to close its Cyprus-based payment center as a result of sanctions imposed on Russia for its invasion of Ukraine, according to people familiar with the matter.
December 02, 2021
Turkey threatened to block any unauthorized search for gas and oil in its economic exclusive zone in the eastern Mediterranean after Cyprus awarded hydrocarbon exploration and drilling rights in its offshore block 5 to a venture of Exxon Mobil and Qatar Petroleum.
September 22, 2020
Greece, Italy, Egypt, Israel and two other countries will form a permanent organization to promote co-operation over natural gas in the Eastern Mediterranean. Turkey, which has raised tensions by exploring for the fuel in contested waters, is not as yet included.
August 21, 2020
“Turkey is a premium gas market, which has never been significant on a global scale. The discovery really reinforces the country’s potential role as an energy producer in the region,” said Ashley Sherman, principal analyst on Caspian and Europe upstream at Wood Mackenzie.
August 18, 2020
Ankara resumed its search of the contested waters last week after German-mediated negotiations with Greece collapsed when Athens announced a maritime delimitation agreement with Egypt on Aug. 6 in retaliation to a similar deal between Turkey and Libya.
June 03, 2020
The eastern Mediterranean has become an energy hot spot with big finds for EU member Cyprus, Israel and Egypt in recent years, and Turkey’s push to secure a share of the resources in those waters has exacerbated strains in an already tumultuous region.
February 27, 2020
The EU asset freezes and travel bans on two people, whom the bloc plans to identify later on Thursday, make good on its months-long vow to counter Turkey’s oil and natural-gas exploration in waters that are part of the exclusive economic zone of member country Cyprus.
February 04, 2020
European Union diplomats agreed to impose travel bans on two Turkish nationals and freeze their assets in retaliation for Ankara’s gas prospecting in disputed waters near Cyprus, two officials familiar with the matter said.
January 16, 2020
Turkey will issue new exploration licenses in the eastern Mediterranean now that it’s set a maritime border with Libya, President Recep Tayyip Erdogan said Thursday, a step liable to exacerbate strains with Greece and the European Union.
February 21, 2018
Cyprus is nearing an agreement to sell natural gas to Egypt, marking the second potential supply deal in as many days with the North African country vying to position itself as a regional energy hub after the startup of the giant offshore Zohr field.