Exploitation licenses in pieces 2, 3 and 9 of the Cyprus Exclusive Economic Zone (EEZ) ended and were not renewed, as investigations did not show exploitable gas deposits, confirmed by the Cyprus News Agency (KIPE). Papanastasiou.
This development also marks the departure of the Korean state company Kogas from the Cyprus EEZ, as it owned 20% of the rights in these pieces. After the end of the licenses, the Italian Eni, which had a leading role in the consortium, now maintains rights in four pieces (6, 7, 8 and 11) in cooperation with the French Total compared to seven who have occupied so far.
Asked about the posting of the Mees Energy Website (Middle Economic Survey) for the return of the rights of pieces 2, 3 and 9 at the end of January, Mr. Papanastasiou confirmed that the licenses ended without renewal, as the investigations did not deliver encouraging results in relation to with the existence of natural gas.
"The exploitation licenses have expired in these pieces. In the pieces 2 and 9 that completed the research/studies there was no one that promises natural gas and we did not renew, "he said. He added that the same applies to piece 3, where investigations were more limited.
The minister noted that non -renewal of licenses is a "natural development", as not all pieces of the Cyprus EEZ were expected to have deposits.
Research licenses for pieces 2, 3 and 9 came into force in January 2013, when they were commissioned by Eni Cyprus Limited and Kogas Cyprus Limited. Then, Total E&P Cyprus BV entered the consortium.
In the licensed areas, 2D and 3D seismic surveys were carried out, as well as two research drilling in Piece 9, which, despite the large depths in which they arrived (5,800 meters for the Amathusa-1 drilling and 5,485 meters for Ontasagoras-1, did not drive. in identifying exploitable quantities of natural gas. In the section 3, the work started in 2018 were harassed by the Turkish Navy.
