Keen interest in oil exploration around Cyprus, says government

The government has said that there is interest from big oil companies in the search for oil and natural gas reserves at sea, in Cyprus’ exclusive economic zone.

Government Spokesman Vasilis Palmas stressed that in this respect Nicosia always acts in line with international law and the Convention of the Law of the Sea, pointing out that Turkey’s reaction to this has no justification.

“We believe that Turkey has no legal basis to react the way it does, sending search vessels in the area, off our coasts,” he said, noting that Turkish vessels have not so far violated the Republic’s territorial waters.

He stressed that Nicosia is monitoring the situation and if it feels that its rights are violated, it will react accordingly.

Responding to questions, he said that the number of companies that has shown an interest in the search and exploration of oil is “satisfactory”.

“We have no intention or disposition to turn the oil issue into a political affair. What we are interested in is to make sure that any company involved complies with the specifications laid out and has the clout to carry out the necessary work. We do hope there will be positive results from this effort,” he added.

In his remarks on the issue, Minister of Commerce, Industry and Tourism Antonis Michaelides said that China has displayed a keen interest in finding out more information about the whole issue.