07 February 2013 09:13

NICOSIA  Two contracts for hydrocarbons exploration were singed Wednesday between French firm Total and the Ministry of Commerce, Tourism and Industry.
They relate to blocks10 and 11 within Cyprus' EEZ.
Minister Neoclis Sylikiotis said that this had "completed one of the most critical objectives set by the Government on energy policy, the successful conduct of the second round of licensing. "
Arno Broiak, President of Total Middle East, said Total will proceed with two-dimensional seismographic studies on marine and 10 land studies of plot 11.
He said that Total intends to proceed with drilling for both oil and for natural gas, but added that it is too early to say which of the two will have priority.


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