Eni Agrees Cyprus Block 11 Farm-in
Eni has finalized a farm-in agreement with Total to acquire a 50 percent participating interest in Block 11, offshore Cyprus.
The agreement, which sees Total remain operator of the block, has been approved by the Council of Ministers of the Republic of Cyprus. With this transaction, Eni acquires the right to explore an area of 855 square miles nearby the super giant Zohr discovery in the Egyptian offshore.
Eni has been present in Cyprus since 2013 through its subsidiary Eni Cyprus Ltd and holds exploration rights on Blocks 9, 3 and 2 (Eni 80 percent, Kogas 20 percent), awarded in the second round.
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