Zohr Field

A large reserve of natural gas off the southern coast of the island of Crete bearing similar features to Egypt's Zohr gas field and Israel's Leviathan in the Eastern Mediterranean has been identified by Hellenic Hydrocarbon Resources Management (EDEY) after an analysis of seismic data from a sea area that also included the Ionian Sea.

Seismic research conducted by Hellenic Petroleum (HELPE), the country's biggest oil refiner, has indicated the possibility of the existence of a large reserve of natural gas in Greece, similar to Egypt's gigantic Zohr gas field in the Eastern Mediterranean.

Cyprus' defense minister says the east Mediterranean island nation and neighbor Egypt are exchanging information to bolster security around an offshore search for natural gas as part of enhanced defense ties.

Savvas Angelides says the two neighbors' information-sharing extends to countering any extremist threats.

American energy giant ExxonMobil is expected to announce a discovery of a large gas reserve in plot 10 of Cyprus' Exclusive Economic Zone (EEZ) next week, according to Cyprus' Sigma Live news network.

The Cypriot station referred to a report by Italy's Agenzia Nova that cited a high-level Cypriot source at the the Egypt Petroleum Show (EGYPS) in Cairo which ended on Wednesday.

Cyprus's energy minister said on Thursday exploratory drilling off the island's southern coast in Block 6 of the island's exclusive economic zone (EEZ) has shown indications of a potentially sizable gas deposit.

One more multinational oil giant is about to seek a slice from the Greek hydrocarbon pie after Total, ExxonMobil, Repsol and Edison, as Italy's ENI is preparing to enter the local market, according to sources.

Royal Dutch Shell Plc is looking to bring natural gas from Israel and Cyprus to market, a step that could help turn the Mediterranean region into a major gas-producing hub.

According to sources, Shell is in talks to buy natural gas from Israel’s Leviathan field and combine it with output from Cyprus’ Aphrodite field – in which has a 35% stake – and pump it to an LNG plant in Egypt.

Turkey has sent two ships and a submarine to monitor a drilling vessel off Cyprus, the military said yesterday, in a measure likely to increase tension.

Nicosia said the Turkish move was expected as Ankara wants to crank up the pressure over gas exploration, but will stop short of any military attack.

Greece’s energy minister held talks on Friday with representatives of U.S. oil major ExxonMobil and France’s Total about gas exploration opportunities off Greek shores, the energy ministry said.

Cyprus’s cabinet on Friday approved contracts with France’s Total, Italy’s Eni , Exxon Mobil and Qatar Petroleum to explore for oil and gas in offshore areas south of the island, officials said.