(MENAFN) Italian energy firm Eni was declared to be resuming further exploration drilling south of Cyprus in the following 20 months.
Chief executive Claudio Descalzi confirmed his company's "strong engagement and commitment" in seeking out hydrocarbons off the east Mediterranean island nation.
The Italian company was revealed by its chief executive to have investment by now USD855 million in the exploratory drilling plan off Cyprus, as it aims to keep searching until the discovery of further gas deposits is made.
Following a meeting with Cypriot president, Chief Executive Descalzi stated "clearly in 2018 and 2019 we are going to drill wells and make studies."
Descalzi continued "there is a good cooperation and there is a good alliance...with the government and we share the same objectives."
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