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Nicosia to set up hydrocarbons fund

The speed at which Cyprus makes its next moves in the wake of Thursday’s announcement by ExxonMobil that a large gas deposit was discovered in Block 10 of its exclusive economic zone (EEZ) is seen as a determining factor in the island’s energy development and future drillings there by the US energy giant.

ExxonMobil surveyor ship to arrive to Limassol

One of the two ExxonMobil research vessels scheduled to carry out explorations in block 10 of Cyprus’ exclusive economic zone (EEZ) departed from Greece on Sunday and is headed towards Limassol port, set to arrive on Wednesday morning. The…

Turkish-Cypriots threaten to drill

Turkish Cypriots warned on Thursday that if the government of Cyprus does not agree to talks over the exploration of hydrocarbons, they will go ahead with their own drilling.

Increased American presence in the Mediterranean

Just a few days after the drillship "Saipem 12000", belonging to the Italian energy giant ENI, departed from the Cypriot Exclusive Economic Zone (EEZ) after a standoff with the Turkish Navy, Sputnik reports that both the US Navy and Marine…