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    Reuters: Cyprus, Total Near Agreement to Extend Offshore Gas Search - Minister

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Summary

The Cypriot energy minister has said that French major Total is close to extending an offshore exploration agreement despite previously failing to hit gas

by: Erica Mills

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Reuters: Cyprus, Total Near Agreement to Extend Offshore Gas Search - Minister

France's Total is close to extending an offshore natural gas exploration program in Cyprus after coming up empty in prior surveys, the island's energy minister said on Monday.

Cyprus, a member of the European Union, has become particularly keen to develop offshore gas reserves as a potential source of revenue since it was compelled to seek an international financial bailout in early 2013.

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