CYPRUS
Macro Political
• According to the Ministry of Energy, Commerce and Industry, drilling operations at the Elektra-1 site in Block 5 of the Republic of Cyprus’s Exclusive Economic Zone (EEZ), conducted by the ExxonMobil and Qatar Energy consortium, have been completed. Preliminary data and evaluation indicate the presence of natural gas in non-commercial quantities. The “Valaris DS-9” drillship, which carried out the operations, will now move to Block 10 to conduct exploration drilling at the “Pegasus-1” well site on behalf of the same two energy corporations.
Source: Ministry of Energy, Commerce and Industry
• In December 2024, the number of building permits authorized by the municipal authorities in Cyprus stood at 385 compared to 587 in December 2024. During the period January – December 2024, 6,827 building permits were issued compared to 7,170 in the corresponding period of the previous year, recording a decrease of 4.8%. The total value of these permits remained unchanged, and the total area increased by 1.2%. The number of dwelling units recorded an increase of 2.6%.
Source: CyStat
• President of Eurogroup, Paschal Donohoe, is in Cyprus and has scheduled meetings today, with Cyprus President Nico Christodoulide and Minister of Finance Maki Keravno
Source: InBusiness
