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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.

This article is serviced by Public Information Office as a Media Rewiew. This is NOT an official public release of MFA