Andrew Swiger

ExxonMobil, Qatar Petroleum sign drilling deal with Cyprus

ExxonMobil and partner Qatar Petroleum have signed a deal with Cyprus to carry out exploratory drilling off the east Mediterranean island's southern coast.

Qatar Petroleum chief executive Saad Sherida Al-Kaabi told the AP there's "a strong possibility" that the geological structure in the area where the partnership is licensed to drill could potentially hold hydrocarbons.