BG entered “12th Parcel” partnership

It was reported that the agreement was signed with British Gas (BG) which will be one of the shareholders of the 12th parcel in the South Cyprus so-called “Exclusive Economic Zone (MEB)”

The Greek Cypriot Alithia newspaper indicated that BG has the concession on Block 12 with a 35 percent share after approval of the shareholders for the sale of the company to Shell with the signing ceremony yesterday.  According to the latest situation; American Noble Energy maintained that operatorship of Block 12 with a 35 percent share arising from the Hydrocarbon Exploration Licence, while Delek Drilling and Avner Oil Exploration each hold 15 percent working interest.