French oil companies show interest in Cyprus EEZ

According to an article in Kathimerini the French oil giants ‘Total’ and ‘Gaze de Frans’ bought three-dimensional seismic data for gas deposits in Cyprus’ Exclusive Economic Zone (EEZ). The cost of seismic data was over the 2 million euros for the company “Frans de Gaze” and over 1.6 million euros for the “Total”.

According to Cypriot state broadcaster CyBC, so far, three-dimensional seismic data were bought by over 30 companies active in the petroleum sector. Candidates include a Norwegian company and the Russian giant “Gazprom” who is said to be preparing to purchase seismic data and make a dynamic bid in the second round of licensing.

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