French Total quit Cyprus energy search after finding nothing - reports.

French Total quit Cyprus energy search after finding nothing - reports. (Famagusta).


The final decision of the French company will be taken and communicated to the Government next week, the paper adds.

THE French company Total are quitting their energy search after finding no evidence for the existence of natural gas in blocks 10 and 11 of the Cyprus Exclusive Economic Zone, according to local media.

Politis reports that the company is seriously contemplating withdrawing permanently from the Cypriot EEZ, whilst Sigmalive reports the French company spent millions of euros on surveys in the two blocks, but without success.

Energy Minister George Lakkotrypis said that Total had been in contact with the government since September regarding the situation.

Speaking on CyBC radio this morning, Lakkotrypis said the decision of the French company is not final and the situation will be clearer next week.

"The company informed us some months ago that it was having difficulty finding any structures, targets, in the blocks it had a licence for. They informed us last September they had not found any target to drill," Lakkotrypis said.

He said the situation has no connection to the recent Turkish offshore provocations.

Total was granted hydrocarbon exploration licenses in blocks 10 and 11 after signing two production sharing contracts with the Ministry of Commerce, Industry and Tourism in Nicosia in February in 2013.

Last month the Cyprus Energy Ministry announced that no exploitable quantities of hydrocarbons were found in an exploratory well in the "Onasagoras" reservoir, in Cyprus` exclusive economic zone block 9.

Referring to `Onasagoras`, the Minister of Energy said that drilling in sea depths like in Cyprus have a technical chance of success of only 26 percent.

ENI is the Operator of blocks 2, 3 and 9 of the Cyprus EEZ with 80% participating interest while KOGAS is partner in these blocks with a 20% participating interest. Hmmmm........Strange he mentioned this...He said the situation has no connection to the recent Turkish offshore provocations.