Neftegaz: Cyprus Says Makes Strides In Offshore Energy Search

Cyprus said Wednesday it was making good progress with a second round of licensing for exploratory drilling aimed at exploiting offshore oil and gas deposits.
In October drilling permits, subject to negotiation, were approved for blocks 2, 3, 9 and 11, and on Wednesday block 10 was also added to the list.

"Negotiations with applicants for blocks 2 and 3 have made significant progress while progress has been made in negotiations for block 11,"said government spokesman Stefanos Stefanou.

However, talks with preferred bidders for block 9--a French-Russian tie-up involving Total ENP Activities and Novatek--have ceased, he said.

He said the cabinet had decided direct negotiations should end as they had been "unsatisfactory," and they would now move on to ENI SpA and Korea Gas Corp.

The government is also negotiating a deal with the same Italian-South Korean partnership for blocks 2 and 3.  MORE