UPI en Español  |   UPI Asia  |   About UPI  |   My Account
Search:
Go

Eni plans more work offshore Cyprus

  |
 
Published: July 12, 2013 at 7:56 AM

NICOSIA, Cyprus, July 12 (UPI) -- Italian energy company Eni said it discussed plans for future energy development in Cyprus with President Nicos Anastasiades.

Eni holds an 80 percent stake in three reserve areas in the deep waters in the Levantine basin off the coast of Cyprus. It is working alongside Korean natural gas company KOGAS.

Eni Chief Executive Officer Paulo Scaroni met in Cyprus with Anastasiades to discuss future development in the country "in the case of a discovery."

The Italian energy company said Thursday it would meet again with Cypriot officials to discuss the progress of developments in the Levantine basin.

Eni made its debut in Cyprus in January with the three deep-water blocks, which cover about 4,800 square miles.

Offshore reserves in the region may be a source of contention given regional rows between the Cypriot and Turkish governments. The Cypriots had discussed coordinating with their Lebanese counterparts on offshore reserves.

Cyprus is considered frontier energy territory. Its offshore area could hold nearly 12 trillion cubic feet of natural gas reserves.

Recommended Stories
© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.

Order reprints
Join the conversation
Most Popular Collections
New York Fashion Week 2013 U.S. Open 2013 50th anniversary of the March on Washington
Celebrity families of 2013 MTV VMAs 2013 Style Awards
Additional Energy Resources Stories
Video
1 of 18
Obama visits Sandwich Shot in Washington, D.C.
View Caption
President Barack Obama and Vice President Joe Biden order take-out lunch at Taylor Gourmet on Pennsylvania Avenue, in Washington, D.C. on October 4, 2013. The reason he gave was they are starving and the establishment is giving a 10 percent discount to furloughed government workers as an indication of how ordinary Americans are looking out for one another. UPI/Pete Marovich/Pool
fark
Police reveal greatest crime fighting weapon yet - Simon Cowell and dancing celebrities
Congratulations to Steve Jobs. Two years cancer free
Thanksgiving and the first day of Hanukkah will fall on the same date in 2013: Nov. 28. Are you...
FARK party in Chicago. Monday, October 7. Going to the Art Museum, getting pizza and drinking (OF...
If you leave your purse behind at a Foot Locker and it's got your cocaine inside, just let it go....
Catholics in America love the new pope. Catholic bishops in America, not so much