Cyprus’ Energy Minister announced that ExxonMobil is in talks with Eni and Total to jointly develop gas deposits off Cyprus’ southern coast, potentially bolstering Europe’s energy security. ExxonMobil plans to drill a new well near the existing Glaucus deposit and another in Block 5, with development options to be considered by mid-2023. The Eni-Total consortium has also discovered gas deposits in the area, with potential infrastructure linking the sites and talks with Gulf energy companies for exploration licenses ongoing.
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