Contracts for Cyprus third round of licensing are presented to the Cabinet.

Contracts for Cyprus third round of licensing are presented to the Cabinet.
Contracts for Cyprus third round of licensing are presented to the Cabinet.Cyprus Gas News

UPDATE: 5 & 6 of April the signing of the contracts

Today the Minister of Energy, Giorgos Lakkotripis, is presenting the necessary preparations of the three agreements that have been concluded by the negotiation group and the consortium of ExxonMobil-Qatar Petroleum, ENI, and ENI-Total for the areas “10”, “8” and “6” of the Cypriot EEZ respectively.
There has already been a final agreement regarding the dates of the three contracts’ signing which are placed during the first week of the following month.
Specifically, the official contract signing with the consortium of ExxonMobil-Qatar Petroleum for the area “10” has been arranged to take place on Wednesday, 5 April.
The official contract signing ceremony with ENI for the area “8” and with the consortium of ENI-Total for the area “6” will take place on the following day, Thursday, 6 April.
ExxonMobil-Qatar Petroleum consortium’s side, as proof both of the extent of the importance that Cyprus has for these two energy behemoths and also of the gravity that the signing of the covenant for the area “10” has for them, they send highly significant corporate executives to Cyprus for the ceremony.
Today, the Cabinet, after getting the updates from the Minister of Energy regarding the providence of the agreements, the obligations they need to take on for the research and drillings, for the hydrocarbon segmentation in case of ledge findings, the bonus that is given towards the state fund for every contract, etc., is expected to get the authorisation for the contract signing.
As it has already been known, the total state revenue, which is going to be earned from the signing of the three contracts in April, amounts to €103,5 million.

Contracts for Cyprus third round of licensing are presented to the Cabinet.