The `Glafkos-2` appraisal well in Block 10 of the Exclusive Economic Zone (EEZ) of the Republic of Cyprus revealed the existence of high-quality natural gas, according to an announcement issued on Monday by the Ministry of Energy, Trade and Industry.
Logistics firm Medserv has been awarded a contract to provide support for a gas production project in Egypt.
Medserv Egypt Oil & Gas Services JSC it will supply materials and warehouse management services for for BP’s drilling and gas production projects in Egypt. It follows an international tender.
The project is expected to contribute towards an improved financial performance of Medserv Egypt Oil & Gas Services JSC, the company said.
It said it is another major step to broaden Medserv’s oil and gas client portfolio within this region and together with already contracted business. It further underpins the company’s business pipeline.
The MSE Equity Total Return Index registered a further 1.4% decline, as losses in the opening and closing sessions were enough to outweigh the gains in the other three sessions. The local equities’ index ended the week at 8,241.788 points.
A total of 19 equities were active, three of which headed north, while another 10 closed in the opposite direction.
A total weekly turnover of €0.8 million was generated over 152 deals.
BMIT Technologies plc was the most liquid equity, as it registered a total turnover of €161,511 during the week.
The equity started off the week on a positive note, as it reached €0.49 but did not manage to sustain the gain, as it closed flat at €0.48 yesterday.