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Cyprus

Delek announces bid for Cyprus’ EEZ third licensing round

Israeli Delek Group Ltd announced on Sunday that its gas and oil exploration units Avner Oil and Gas LP and Delek Drilling LP have bid for Cyprus’ Exclusive Economic Zone third licensing round for hydrocarbon exploration on blocks 6, 8 and 10.

According to “Globes” website, winning such a bid would be synergistic to its operations in Israel’s offshore gas fields.

The bid by the Delek units was submitted as part of the Capricorn Oil consortium. Capricorn is the consortium`s operator and is a unit of Cairn Energy, which is traded on the London Stock Exchange under the CNE ticker.

Energy Minister Yiorgos Lakkotrypis announced last Friday that the Ministry received a total of six bids from eight companies for its third licensing round for offshore exploration in blocks 6, 8 and 10 of Cyprus’ Exclusive Economic Zone (EEZ).

The names of the interested companies and consortia will be announced next Wednesday, July 27, after the minister will have officially informed the Cabinet.


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