President of the Republic Nikos Christodoulides has refuted reports that ENI intents to sell its rights in Cyprus' EEZ.

Asked on Wednesday if he was concerned by reports in relation to ENI that it would sell its rights for hydrocarbon exploration and exploitation in Cyprus' EEZ, the President said that "we have spoken with ENI, there is absolutely no intention in relation to the EEZ of the Republic of Cyprus. "

Italian oil giant ENI was said to be considering divestment from specific projects.

Citing unnamed sources, Bloomberg reported on Monday that Eni is planning to divest over $4 billion in upstream assets, with Indonesia and Cyprus among those potentially targeted.

Invited to comment on the report, Energy Minister George Papanastasiou told CNA that Nicosia has no information on the matter.