Total requested the renewal of the contract relevant to the 11th parcel

French Total Company officially applied to the Greek Cypriot Administration in order to renew the contract related to the 11^th parcel in the Greek Cypriot “Exclusive Economic Zone” (MEB).

The Greek Cypriot daily Politis announced that with the renewal of the contract, the company will lose 25 percent of the 11^th parcel but it will continue to stay in the Greek Cypriot Exclusive Economic Zone for at least two more years.

The newspaper also wrote that the company has found a target to drill and drilling was planned for autumn 2016 and the company informed the Energy Ministry with a letter about their application for the renewal of the contract related to the 11^th parcel last Monday.