CYPRUS: NEOS GeoSolutions in onshore and near-shore surveys

The Ministry of Energy, Commerce, Industry and Tourism, licensor for the offshore oil and gas fields within the Cyprus Exclusive Economic Zone, has signed a non-exclusive agreement with Silicon Valley company NEOS GeoSolutions Inc. for the conduct of onshore and near-shore geophysical surveys.

The agreement, signed by Energy Minister Yiorgos Lakkotrypis, and NEOS President and CEO of the company, Jim Hollis, follows the go-ahead from the Council of Ministers on September 16.
The ministry said that “thse studies are expected to contribute towards the assessment of the hydrocarbons prospectivity onshore and near-shore the Republic of Cyprus.”
California-based NEOS is an exploration solutions provider to energy ministries and natural resource firms involved in oil and gas, minerals and groundwater extraction and is considered a leader in the emerging field of multi-measurement subsurface interpretation.
NEOS www.neosgeo.com is already conducting a geophysical airborne survey designed to map the regional prospectivity of 6,000 sq.km. of northern onshore Lebanon and the transition zone along the Mediterranean coastline by integrating legacy well and seismic data with newly acquired airborne geophysical datasets.