By Elias Hazou
THE GOVERNMENT was yesterday forced to eat its words, after it emerged that interest in the so-called oil blocks was not as great as had been hyped up to be.
Speaking on CyBC radio, Solon Kassinis, head of the governmental Energy Department, conceded that oil giants such as Exxon-Mobil, Shell and BP had not taken an interest in exploring the 11 areas earmarked as containing reserves of oil and natural gas.
“It seems that some of these companies do not want to expand their operations now, as they are already busy elsewhere, for example in Egypt,” said Kassinis.
At present, oil majors can purchase seismic data and two-dimensional templates of the Mediterranean seabed from Cyprus. The data will be available for purchase until the end of this month, at which time companies can apply for exploration permits.
August 16 is the deadline for applying for the permits.
The seismic data covers an area of 60,000 km2 over the Eratosthenes structure, Levant Basin, and the prolific Nile Delta.
But only 48 hours earlier, Kassinis was boasting of “five or six renowned companies” looking into the Cyprus possibility.
Perhaps to patch things up, Trade Minister Antonis Michaelides said that while a number of corporations had indeed asked for the seismic data, this did not necessarily mean they would apply for a permit.
“There seems to be a great deal of confusion,” said Panos Papanastasiou, head of the Department of Civil and Environmental Engineering at the University of Cyprus.
“While it’s probably true that oil majors are busy elsewhere, that’s only part of the story.
Another reason is that they probably weren’t convinced by the available data. Of course, there’s also the political dimension,” he added.
Meanwhile, more reports have been emerging that a Turkish oil explorer has been making forays into the eastern Mediterranean. According to the Turkish media, the vessel set off from the port of Alexandretta, but neither its current location nor destination are known. It is believed the ship may be headed for areas adjacent to Cyprus’ Exclusive Economic Zone.
“I think we should take these reports of an oil explorer with a pinch of salt,” said Papanastasiou.
“The technology involving geo-physic measurements is high-end. It requires a great deal of investment into research. Whether Turkey actually possesses such technology and such ships is doubtful. However, every time it’s reported that this ship has set sail, we [the government] take the bait,” he said.
And Turkish newspaper Zaman reported yesterday that a Turkish state-owned company has been cleared to explore the seabed inside the country’s continental shelf.
Moreover, the paper claimed Ankara had established a dozen oil blocks of its own, and that one of these areas corresponded to Cyprus’.
Last week, Ankara stepped up its campaign to halt the process with a direct appeal to United Nations Secretary-general Ban Ki-Moon.
And on Tuesday, the Turkish Cypriot side warned tensions in the eastern Mediterranean could “escalate” if the government went ahead with its oil drilling plans.
Turkey disputes the Republic’s right to prospect for oil, arguing that in a half-closed sea such as the Mediterranean, the exclusive economic zones and continental shelves must be jointly agreed by all neighbouring countries.
Nicosia has been putting on a brave face, reiterating that it is well within its rights.
Yesterday, Foreign Minister Erato Kozakou-Markoullis said Ankara’s actions in the eastern Mediterranean would have a “direct impact” on its EU accession course.
Copyright © Cyprus Mail 2007
