Cairn, Marathon Bid for Offshore Cyprus Stake

Cairn, Marathon Bid for Offshore Cyprus Stake

In its interim statement released today, UK based Cairn announced participation in the current bid round offshore Cyprus.

Cairn and its partners submitted the Bids on 11 May with awards expected towards the end of the year. Cairn holds a 40% share in the bidding consortium and other partners comprise Marathon Oil Company (40%), CC Energy S.A.L (an associated company of the CCC Group of companies, a Lebanese private company) (10%) and Oranje-Nassau Energie B.V. (10%).

“Cyprus offers early stage frontier exploration acreage with moderate technical risk.” read Cairn’s statement.

A number of recent discoveries in the region have stimulated industry interest in a potential new source of gas, most likely for European markets.

The second license round offshore Cyprus opened 11th of February 2012 and according to reports it has attracted 29 companies. The round expired on Friday, May 11.

Cyprus’ Commerce Minister, Neoclis Sylikiotis last Friday said that 29 international companies had submitted 15 bids for nine offshore blocks, the result that “surpassed our expectation”, Cyprus Mail reports.

Offshore Energy Today Staff, May 17, 2012

 

 

Share this article

Follow Offshore Energy Today

Events>

<< Apr 2020 >>
MTWTFSS
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 1 2 3

Navingo Career Event

The Navingo Career Event is Europe’s biggest career event for the maritime…

read more >

Offshore Technology Conference (OTC) 2020 Postponed

The Offshore Technology Conference (OTC) showcases leading-edge technology for offshore drilling, exploration…

read more >

OWI APAC 2020

Over the two-day conference, 30 expert speakers will share exclusive insight to help drive well work efficiencies through innovative…

read more >

2020 EXPLORATION AND PRODUCTION STANDARDS CONFERENCE ON OILFIELD EQUIPMENT AND MATERIALS

The development of consensus standards is one of API’s oldest and most successful programs.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply