In the presence of Presidents Christodoulides and Abula Fattah Al Sisi, the agreement for the commercialization of all deposits in block six, in which the “Kronos” is located, will also be signed.
Representatives of the companies Eni and Total will also be present at the signing.
President Christodoulides reiterated this weekend that the two agreements have decisive political, geostrategic and economic significance.
RECENT DEVELOPMENTS
Just last week, Famagusta Gazette reported that no exploitable natural gas deposits were identified in sea blocks 2, 3 and 9 of the EEZ of the Republic of Cyprus.
Energy Minister George Papanastasiou said that the exploitation licenses for blocks 2, 3 and 9 expired and were not renewed, as the surveys did not reveal exploitable deposits.
This development marks the withdrawal of the Korean state-owned company Kogas from the Cypriot EEZ, as it held 20% of the rights to the specific blocks.
Following the expiration of the licenses, the Italian company Eni, which had a leading role in the consortium, now retains rights to offshore blocks 6, 7, 8 and 11, in collaboration with the French company Total.