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Eni, Total, Exxon picked for Cyprus offshore exploration blocks

Dec. 21, 2016 5:25 PM ETEni S.p.A. (E) StockXOM, TTE, EBy: Carl Surran, SA News Editor4 Comments
  • The government of Cyprus today selected Eni (NYSE:E), Total (NYSE:TOT) and Exxon Mobil (NYSE:XOM) for three oil and gas exploration licenses in the Mediterranean Sea near the area where Eni made the biggest gas find of the past decade.
  • Eni and TOT were awarded a joint exploration license, Eni won another block on its own and a third went to XOM in partnership with Qatar Petroleum, the energy ministry said.
  • Interest in exploration opportunities in the Mediterranean's Levant basin has gained since Eni's discovery of the Zohr gas field offshore Egypt last year that is estimated to contain 850B cm of gas.

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