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.