THE GOVERNMENT is exercising its sovereign rights to explore for hydrocarbon reserves in its Exclusive Economic Zone, said Commerce Minister Praxoulla Antoniadou said yesterday after meeting with Noble Energy officials.
The newly-appointed minister said the “informative” meeting was held so both sides could get to know each other and update the existing schedule for drilling in Cyprus’ south-eastern Exclusive Economic Zone (EEZ).
Noble has a concession to drill for hydrocarbons in Block 12, an 800,000-acre economic zone, which borders Israeli waters where studies suggest massive gas fields exist under the seabed.
“So far, the planning is going ahead, the drilling is to start beginning of October, with October 1 being the indicative date for the start of work,” said Antoniadou.
Regarding recent threats by the Turkish leadership that it will take the “necessary measures” against Cyprus’ efforts to drill in its EEZ, the minister said Cyprus is acting on the basis of international law and the Law of the Sea Convention.
Asked whether Turkey’s behaviour was discussed during the meeting, she said: “Indirectly, everyone is asking about the threats, and the position of the Cyprus Republic is that we are proceeding on the basis of the existing schedule.”
She added: “Regarding the broader issue of Cyprus’ natural wealth, there is no doubt that Cyprus has every right to proceed and take all steps needed to exploit its natural wealth.”
Antoniadou called on Turkey to work towards achieving true peace in the region.
If Turkey really wants to see peaceful co-existence in the Mediterranean, then the best thing it can do is help solve the Cyprus problem, she said.
“As things stand at present, only Cyprus can allow the continuation of Turkey’s accession course, and the best way to contribute to creating a climate of peace and cooperation in the region is to help efforts towards a solution which will reunite Cyprus.”
She added that a solution should be based on the agreed framework for a bizonal, bicommunal federation, with political equality, as defined in UN resolutions, so that the countries of the region “can all proceed together in conditions of peaceful cooperation within the framework of our wider European family”.
Asked if Noble Energy was concerned about Turkish threats against drilling, Antoniadou replied: “I have nothing further to add.”
Eight chapters in Turkey’s EU accession negotiations are currently being blocked due to the candidate country’s failure to open its ports and airports to Cypriot-flagged vessels and airplanes. Cyprus is also keeping a further six chapters on hold unilaterally.
Cyprus held the first round of licensing for concessions to explore for oil and gas in 2008, with Texas-based company Noble winning the concession to drill in Block 12.
Asked when a new round of licensing would take place for other blocks in Cyprus’ EEZ, the minister said the government would take things “step by step”. First, let the exploratory drilling start, then the rest, she added.
