In February 2013, following the 2nd Cyprus Licencing Round, the Government of the Republic of Cyprus awarded Exploration License and Production Sharing Contract (EPSC) for Blocks 10 and 11 to Total E&P Cyprus B.V for an initial term of three years.
Total acquired and assessed a seismic survey in order identify potential targets for exploration drilling in Blocks 10 and 11. In 2015 Total decided to relinquish Block 10 and continue its exploration programme only in Block 11.
In March 2017 Total transferred 50% of its rights in the license to Eni, with Total remaining as the operator, and in July 2017 spudded the Onesiphoros West-1 exploration well, targeting Miocene/Cretaceous subsalt carbonates. This was the first well drilled on the deep offshore Block 11 of the Cyprus EEZ, and the first well targeting carbonate reservoir in the Cyprus EEZ as a whole.
The well confirmed the presence of gas and the presence of carbonates. This is encouraging news for the current exploration campaign that is taking place offshore Cyprus.
CHC participates in the Production Sharing Contract management committee on behalf of the Government of Cyprus.