President Nicos Anastasiades told reporters Thursday he’s not disheartened by the failure of an Italian-South Korean consortium to find commercially viable amounts of gas during exploratory drilling in an area off Cyprus’ southern coast.
Saturday’s focus shifted to the private sector, with several companies announcing agreements, including some from Germany’s Siemens AG that were the largest single package signed at the three-day conference.
Oil companies that had locked up more than 1.3 million acres of the Beaufort Sea for drilling in 2007 have since relinquished nearly half that territory, signaling the industry’s appetite for tapping those Arctic waters may be waning even as the Obama administration makes plans to auction off more of the area.
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