ExxonMobil could partner up with Eni and Total to jointly develop natural gas deposits off Cyprus
Cyprus’ energy minister says ExxonMobil could partner up with a consortium composed of Eni of Italy and Total of France to jointly develop gas deposits they’ve discovered close to each other off the island nation’s southern coast
By MENELAOS HADJICOSTIS
Published - Nov 22, 2024, 08:54 AM ET
Last Updated - Dec 16, 2024, 05:14 PM EST
NICOSIA, Cyprus (AP) — ExxonMobil could partner up with a consortium composed of Eni of Italy and Total of France to jointly develop gas deposits they’ve discovered close to each other off Cyprus' southern coast, the Cypriot energy minister said Friday.
Minister George Papanastasiou said ExxonMobil is in talks with the Eni-Total consortium on working together to bring their discoveries to market.
He said that potential collaboration could get a significant boost if an exploratory well that ExxonMobil plans to drill early next year strikes more of the hydrocarbon.
Cyprus officials have repeatedly said that offshore gas deposits could bolster Europe’s efforts to secure alternative energy sources following Russia’s war in Ukraine.
