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Cabinet Approves The Licensing Of Block 5 To ExxonMobil & Qatar Petroleum Consortium
December 2, 2021
The Council of Ministers approved on Thursday the licensing of block 5 of the Cyprus EEZ to the of ExxonMobil Exploration and Production Cyprus Limited and Qatar Petroleum International Upstream LLC consortium.
In statements after the Cabinet meeting, Energy, Commerce and Industry Minister Natasa Pilides said ExxonMobil will be the operator with a 60% participation while Qatar Petroleum International Upstream O.P.C. will have a 40 percent interest.