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Qatar Petroleum, ExxonMobil to Explore for Oil & Gas in Cyprus

Source: Reuters 4/5/2017, Location: Europe

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Qatar Petroleum (QP) and ExxonMobil will start drilling for oil and gas off the southern coast of Cyprus in 2018, the Qatari firm said after signing an exploration and production sharing contract with the Mediterranean island.

Exploring the Mediterranean's Levant Basin has become more attractive since Eni discovered Egypt's offshore Zohr field in 2015, the biggest gas field in the Mediterranean and estimated to contain 850 billion cubic meters of gas.

State-owned Qatar Petroleum and ExxonMobil were among bidders last year for a contract for Cyprus's offshore Block 10.

"A 3D seismic survey is already underway, as the consortium partners prepare to begin exploration drilling in 2018," QP said in a statement.

To maintain its dominance over competitors in the United States and Australia, QP is cutting costs at its domestic operations and seeking to expand overseas through joint ventures with international oil firms, QP said in February.

Drilling News in Cyprus >>

Norway >>  7/18/2018 - The Petroleum Directorate has granted Equinor Energy AS a drilling permit for wells 35/10-4 S, 35/10-4 A and 35/10-4 B, cf. Section 15 of the Resource...
Australia >>  7/17/2018 - Transocean Ltd. (NYSE:RIG) announced today that the ultra-deepwater semisubmersible GSF Development Driller I was awarded an 11-well contract (approxi...

United Kingdom >>  7/16/2018 - Transocean Ltd. announced that the midwater semisubmersible Transocean 712 was awarded a 13-well contract (approximately 580 days) commencing in March...
Australia >>  7/13/2018 - Carnarvon Petroleum Limited provides the following update on the drilling of the Dorado-1 well. ...

Norway >>  7/10/2018 - Hundreds of workers on Norwegian oil and gas offshore rigs will go on strike on Tuesday after rejecting a proposed wage deal, a state-appointed mediat...
Indonesia >>  7/6/2018 - Range Resources has provided an update on the operations at the Perlak field, located in Northern Sumatra, Indonesia. As previously announced, the ope...

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Related Articles: Artificial Lift  Cementing, Stimulation  Directional Drilling  Drilling  Drilling Engineering & Equipment Systems  Enhanced Oil Recovery  General  Logging, Perforating, Testing  Offshore Drilling  Reservoir/Completion Consultants  Workover & Well Services  Workover Rigs/Services 


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