The Zohr effect
Hopes are high of fresh finds in the area
What a difference a day makes. When Eni announced the Zohr discovery in 2015, the whole complexion of the East Mediterranean play changed. By that time, for example, the Cyprus offshore had begun to lose its lustre. The Aphrodite field in Block 12, discovered in December 2011 with reserves of 5 trillion cubic feet of natural gas, remained (and remains) undeveloped. Total withdrew from Block 10, on the maritime border with Egypt in 2015, having given up hope of a commercial discovery, two years after being awarded the licence. But when the third Cyprus licensing round was held in 2016, international oil companies were eager to grab Block 10 and others near the Zohr field. "There's no doubt th
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