There are many international companies which have either expressed interest or have bought the results of initial research conducted on behalf of the Republic of Cyprus within its Exclusive Economic Zone (EEZ) for hydrocarbons, Government Spokesman Stephanos Stephanou has said.
In statements he made to the press and whilst replying to a question on the matter Stephanou said that “I would not wish to say which companies have bought or have shown an interest for the results of the various geophysical researches the Republic of Cyprus has conducted within the Cypriot EEZ in relation to the existence of hydrocarbons”.
There are many companies, he said, that have attained the results, which predisposes that there will be significant interest shown by various companies for the 2nd permit round for Cyprus’ remaining plots.
Invited to comment on Israel’s expressed wish that Greece and Cyprus are used as centres for the transport of Israeli natural gas, Stephanou said that it is a well known fact that the Republic of Cyprus and Israel are in discussing ways to achieve future cooperation in the area of energy, adding that Cyprus would be interested in such a development.
Replying to a question about whether the presence of Russian warships in the Eastern Mediterranean has something to do with developments in Cyprus’ EEZ, Stephanou said that that the Eastern Mediterranean is currently an area of great geostrategic importance and the military presence of various countries in the area is usually significant.
The various developments taking place in the area may increase the interest of various countries accordingly, he noted.
Turkey, whose troops occupy Cyprus’ northern part since they invaded in 1974, does not recognise the Republic of Cyprus. Following a decision by Nicosia to begin natural gas and oil exploration in its exclusive economic zone, Ankara has deployed warships in the Eastern Mediterranean and has signed an illegal agreement with the Turkish Cypriot regime in occupied Cyprus to delineate what it calls continental shelf.
Drilling has already begun and is being carried out by Houston-based “Noble Energy”, off Cyprus’ south-eastern coast. The 2nd permit round for the remaining plots within the Republic's EEZ is due to begin by the end of the year.
The government of Cyprus has protested to the UN and the EU Turkey’s moves, saying it has a sovereign right to exploit its natural resources, pointing out that Greek Cypriots and Turkish Cypriots will benefit from any benefits that may come from oil drilling.
Cyprus has signed an agreement to delineate the Exclusive Economic Zone with Egypt and Israel with a view to exploit any possible natural gas and oil reserves in its EEZ. A similar agreement has been signed with Lebanon but the Lebanese Parliament has not yet ratified it.
