East Med Energy Hub?

Cyprus is set to become a regional energy services hub for the East Mediterranean. Two of the world’s largest oilfield services companies, Houston-based Halliburton and Schlumberger, will make the island their regional base – servicing their drilling offshore Israel and Lebanon, and potentially Egypt, as well as Cyprus itself.

Halliburton’s senior vice president for Europe and Africa Mark Richard visited Nicosia on 9 May to meet Cypriot President Nicos Anastasiades and Energy Minister Giorgos Lakkotrypis, signaling

the company’s arrival on the island.

Both companies have already begun

setting up facilities on Cyprus’ southern coast in Larnaca. Operations will ramp up as a local workforce is trained to man the offices, which will support offshore drilling, including storage and maintenance of drilling equipment. (CONTINUED - 380 WORDS)