Cyprus Mail
Cyprus

Total to pull out Cypriot EEZ following total seismic data flop

By Stelios Orphanides

French multinational energy company Total S.A. found no spot to drill for hydrocarbons in the two blocks for which it got an exploration and exploitation licence, energy minister Yiorgos Lakkotrypis said.

Lakkotrypis who was commenting on state radio CyBC said financial considerations played also a role in Total’s decision not to go ahead with exploratory drilling and the government is now in talks with the company about its future intentions.

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