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Lakkotrypis satisfied with interest shown in third licensing round

Energy Minister Giorgos Lakkotrypis at a memorial service on Sunday

Energy Minister Giorgos Lakkotrypis said on Sunday he was satisfied with the interest shown by oil companies in the third round of licensing for hydrocarbon explorations in Cyprus` exclusive economic zone.

Lakkotrypis has returned from visits to London and Houston, Texas. He said interest in the round would become apparent on July 22, when proposals would be submitted.

Speaking in Limassol, on the sidelines of the fifth annual memorial service for army officers killed in an explosion at the Evangelos Florakis naval base in Mari, in 2011, Lakkotrypis said he was satisfied with the meetings he had, noting that contacts would continue until July 22.

“The number of companies that showed an interest is large but it is important to see which of these companies will submit proposals on July 22 concerning the blocks open for licensing”, he added.

Asked if the number of companies this time was larger than previous times, the minister said this was a different case in the sense that there were three blocks available, while in the second round there were twelve. (CNA)

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