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Eni and Total are in a consortium for one of the blocks and ExxonMobil and Qatar Petroleum have joined up for another. Eni will be on its own in a third block. The blocks were offered in the third licensing round held by Cyprus, Reuters reported.
As part of the deal, Ineos is taking over Engie's entire U.K. onshore exploration license portfolio that consists of interests in 15 licenses including seven in which Ineos had a previous participation, Reuters said.