Cyprus

The updated plan seeks to avert termination of the PSA by raising total investment and constructing a floating production unit at Aphrodite plus an export pipeline to Egypt.

Updates about global exploration and production activities and developments.

While projects offshore Cyprus and Israel advance, Lebanon’s latest licensing round follows news that Eni, TotalEnergies, and QatarEnergy drilled a dry hole on Block 9 near the country’s maritime border with Israel.

Lebanon hopes to join the club of EastMed gas producers as TotalEnergies and its partners spud an appraisal well near Beirut’s maritime border with Israel where gas is already being produced.

The results of well testing at Zeus-1 are being combined with results of testing at two other discoveries to create a plan for the fast-track development of the offshore block.

Eni and TotalEnergies’s newest gas discovery offshore Cyprus confirms geologic ties to Egypt’s Zohr field, the Mediterranean’s largest natural gas field.

The Cronos-1 well gets underway after 2-plus years of pandemic-related delays.

The Glaucus-2 well confirms the existence of a multi-TCF gas field.

QatarEnergy is farming into ExxonMobil’s North Marakia deepwater exploration project offshore Egypt as it further grows its position in the East Med and a share of possible future gas sales to Europe.

East Med gas production, leveraged by Egypt’s position at the mouth of the Suez Canal, is redefining geopolitical relations as North Africa, Europe, and the Middle East strive to create a new distribution hub for energy, legacy, and renewables.