Total refuses search gas offshore Cyprus

French oil and gas company Total disclaims search of hydrocarbons in the exclusive economic zone of Cyprus to the publication In-cyprus. Total in 2013 concluded two agreements with the Government of Cyprus to the exploration and development of hydrocarbon deposits, while companies were given plots 10 and 11.

The newspaper said the company Total has decided to abandon the agreement to continue to not lose 250 million euros to conduct seismic exploration. It clarifies the newspaper, breaking deal will cost the French side in 70 million. According to sources in the government of the country, the decision Total not associated with the actions of Turkey.

Ankara previously reported that in the period from January 6 to 6 April Barbaros its research vessel will carry out seismic exploration of oil and gas resources offshore Cyprus to the south of the island. The ship conducted seismic survey in the exclusive economic zone of Cyprus on 20 October, which caused the breakdown of talks on the Cyprus settlement.

January 21, 2015

"Oil Review"