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Govt hopes Total will stay

The government is hopeful that oil major Total will maintain its presence in Cyprus, President Nicos Anastasiades said on Monday.

Asked whether the government is optimistic on the chances of the multinational continuing its operations, Anastasiades said: “Yes, we are optimistic.”

Anastasiades was speaking to reporters following a meeting with party leaders at the presidential palace, where energy – and particularly the government’s intentions towards the French oil giant – was discussed.

Government spokesman said later that the dialogue with Total is ongoing, and that both the government and the company had the “will” to maintain their collaboration.

Attorney-general Costas Clerides, who also took part in the meeting, told the media that it was legally possible to amend Total’s contract in such a way as to induce the company not to terminate their operations here.

“There are legal ways [to do this], it is now a political decision,” he said.

Last week the government revealed that Total had found no potential drilling targets in their offshore concessions and that they were therefore considering pulling out.

It’s understood that under Total’s agreement with the government, the company must drill at least two exploratory wells or else pay a penalty.

Cyprus Mail
Published on:
January 26, 2015
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