Displaying items by tag: oil exploration

Turkey and Libya have signed a new agreement for hydrocarbon exploration in contested waters south of Crete, a direct response to Greece’s own energy plans and a move that significantly escalates tensions in the Eastern Mediterranean.

The Cypriot Ministry of Energy officially announced the start of exploration drilling of in block 11 with the country’s Exclusive Economic Zone (EEZ) at the “Onesifiros-West 1” target, which is expected to last for 75 days.

Energean will start drilling for hydrocarbons at the Katakolo site in the winter of 2016-2017, followed by seismic surveys at the Ioannina site the following summer, company Chairman and CEO Mathios Rigas said at an international energy conference taking place in Croatia this week.