On the 2nd December 2021, the Republic of Cyprus’ Council of Ministers approved the issue of an Exploration license for Block 5 of the Cyprus EEZ to a consortium of ExxonMobil and Qatar Petroleum. ExxonMobil will be the operator of the license, and the companies will have a participation share of 60% and 40% respectively.
The Production Sharing Contract between the RoC and the Consortium will be signed at a ceremony to be held in Nicosia within the next few days.
