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SUPPORTING ECONOMY: Page 2
Saturday, December 11, 2021 Jumada I 7, 1443 AHBUSINESSGULFTIMESUK economy almost fl atlined in October, adding to interest rate hike doubtsGDP GROWTH SLOWS SHARPLY: Page 4 China seeks to curb relentless yuan gains with surprise fi xSUPPORTING ECONOMY: Page 2 QatarEnergy expands its presence offshore Cyprus with new exploration blockA consortium comprising aff iliates of QatarEnergy and ExxonMobil signed an exploration and production sharing contract (EPSC) with the Republic of Cyprus for the off shore Block 5 located southwest of the island. This is QatarEnergy s second exploration block in the Republic of Cyprus, in addition to Block 10, which was awarded to the same consortium in 2017 and resulted in the Glaucus gas discovery announced in February 2019 with estimated in-place resources of 5tn to 8tn cubic feet of gas. Further assessments are planned over the coming months to further refine this the EPSC terms, QatarEnergy will hold a 40% working interest in Block 5, while ExxonMobil will be the operator and will hold a 60% working on the signing, HE the Minister of State for Energy Aff airs Saad bin Sherida al-Kaabi, who is also president and CEO of QatarEnergy, said: We are pleased with the signing of this EPSC, which expands our footprint in Cyprus.
southwest of the island. This is QatarEnergy’s second exploration block ... oil and gas giant must speed up its carbon emissions cuts, and a decision by the country’s largest ... head of Asia economics at Oxford Economics. A state bailout would “run
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