Pages

Pages

Pages

September 25, 2011

French oil companies show interest in Cyprus EEZ


According to an article in Kathimerini the French oil giants ‘Total’ and ‘Gaze de Frans’ bought three-dimensional seismic data for gas deposits in Cyprus' Exclusive Economic Zone (EEZ). The cost of seismic data was over the 2 million euros for the company “Frans de Gaze” and over 1.6 million euros for the “Total”.

According to Cypriot state broadcaster CyBC, so far, three-dimensional seismic data were bought by over 30 companies active in the petroleum sector. Candidates include a Norwegian company and the Russian giant "Gazprom" who is said to be preparing to purchase seismic data and make a dynamic bid in the second round of licensing.