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    CNOOC Interested in Cyprus Gas Exploration License

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Summary

China National Offshore Oil Corp. plans to acquire a license to explore for natural gas offshore Cyprus, Xinhua news agency reported.

by: Shardul

Posted in:

Asia/Oceania

CNOOC Interested in Cyprus Gas Exploration License

China National Offshore Oil Corp. plans to acquire a license to explore for natural gas offshore Cyprus, Xinhua news agency reported.

Cyprus issued a second round of licenses for 12 blocks in its offshore exclusive economic zone.

The country is planning to establish a state energy company to develop hydrocarbon reserves and Cyprus and Israel are currently considering a plan for joint development of their respective natural gas reserves.