ExxonMobil and Qatar Petroleum have signed a contract with Cyprus to explore a block in the Mediterranean Sea.
A 3D seismic survey is already underway on block 10 as the consortium partners prepare to begin exploration drilling in 2018.
Qatar Petroleum chief executive Saad Sherida Al-Kaabi said: “This agreement expands our international upstream footprint into the eastern Mediterranean for what we hope is one of the most promising opportunities in the area.
“We look forward to working with the esteemed Government of Cyprus along with our long-term partners, ExxonMobil, in this exciting prospect to bring greater benefit to the country.”