SIX or seven big foreign companies have expressed an interest in permits to explore for oil and gas off the island’s coast, Commerce Minister Antonis Michaelides said yesterday.
Michaelides was speaking after a meeting with Chinese ambassador Zhao Yali, whom he briefed on the progress in the exploration issue. He said China was also interested.
“It is only natural that companies, not only from other countries but also from China, are interested in analysing the data,” the Minister said.
Cyprus is set to accept applications from interested parties for oil exploration permits next Thursday. Michaelides said six or seven foreign companies had expressed an interest.
He did not rule out oil giants showing an interest in a second round of permits, pending what was discovered during the first round, and also didn’t exclude that there might be a third round.
The government says provisional data suggests there are oil and gas deposits in a sea area separating the island from Egypt to its south and Lebanon to its east. And it aims to open 11 areas, or “blocks” rimming the island’s south for exploration.
Turkey and the Turkish Cypriot side have issued strong objections and threats over the oil exploration. Asked after the meeting to comment on the Turkish stance, Zhao said he would rather not.
Government Spokesman Vassilis Palmas said yesterday Cyprus was doing nothing other than exercising its rights under international law.
“We consider that it is not justified for Turkey to react over this issue when everything is being done within the framework of international law,” he said.
Commenting on reports that a Turkish vessel was in the region, Palmas said that as far as the government was concerned the ship had not entered Cyprus’ territorial waters
“We are monitoring the situation and if we feel or judge that our rights have been infringed, we will take the appropriate action,” he added.
Commenting on the companies that had expressed an interest in the exploration, Palmas said the number was satisfactory but did not elaborate on what countries might be involved.
He did confirm they were “big companies”.
“It would better not to politicise this issue or give it political dimensions,” eh added.
“Of course, inevitably certain quarters will attribute this interpretation to it, but what interests us is that these companies will have the specifications necessary to carry out the best research possible.”
