UPDATED 17:24 PM EST, February 5, 2013
Government spokesman Stefanos Stefanou said Tuesday the licensing deal, which will be signed Wednesday, covers drilling in two of 13 blocks on the southern coast that make up the country's 19,700 square mile (51,000 square kilometer) exclusive economic zone.
The two blocks lie west of a gas field — now being developed by U.S. firm Noble Energy and its Israeli partner Delek — that holds an estimated 5-8 trillion cubic feet (140-230 billion cubic meters).
