Kogas Withdrawal: A New Phase for Cyprus' Exclusive Economic Zone
February 4, 2025
The termination of explorations in blocks 2, 3, and 9 of Cyprus' Exclusive Economic Zone indicates the failure to find commercially viable natural gas deposits. The South Korean company Kogas is withdrawing from the area, while Italian Eni continues its activities in other blocks. Seismic studies did not yield satisfactory results, impacting Cyprus' energy landscape. This situation prompts Cyprus to reconsider its strategy for utilizing its marine resources.