Cyprus News Agency: News in English, 07-02-15

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From: The Cyprus News Agency at <http://www.cyna.org.cy>

CONTENTS

[01] OIL EXPLORATION - FIRST PHASE

[01] OIL EXPLORATION - FIRST PHASE

An official press release says that ``the Licensing Round is based on the PGS MC2D CYP - 2006 acquisition, which involved 6,770 line-km of seismic data covering an area of approximately 70,000 sq. km over the Eratosthenes structure, the Levant Basin and the prolific Nile Delta.``

The survey was made available in November, 2006 and ties all the wells in the Deepwater NEMED Block in Egypt, it explains.

Also, an Interpretation report has been prepared by Beicip-Franlab, Consultants to the Ministry of Commerce, Industry and Tourism, which is currently available for purchasing.

Egyptian Minister of Petroleum Amin Samir Fahmi arrived here today to attend the official opening ceremony.

Nicosia has signed two agreements with Cairo and Beirut relating to the exploration and exploitation of oil and natural gas deposits in the Eastern Mediterranean basin.

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