Cyprus dreams again
Developers working offshore the island think they may be about to unlock vast new reserves. Taking them to a depressed market will be much harder
Cypriots are hoping that 11 turns out to be their lucky number, having become disillusioned with 12, their previous favourite. Total, with Eni recently farming in as a half-share partner, will later this year begin drilling in Cyprus's offshore Block 11. While the island's 2011 discovery and big hope at the time, the Aphrodite gasfield in Block 12, still awaits development, the belief now is that a major find in Block 11 will finally kick-start Cyprus's energy sector and energise the entire East Med. Expectations are high because Block 11 borders Egypt's Shorouk concession, where Eni in 2015 discovered the supergiant Zohr field, with reserves of 30 trillion cubic feet of natural gas, eclipsi
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