CYPRUS: Nicosia to stay on track with energy roadmap as more drills expected

Cyprus is determined to stick to its energy roadmap despite Turkey’s opposition, with Nicosia going ahead with new exploratory drilling planned for later in the year.

And positive results are expected to be announced soon from the finds of ExxonMobil test drills off Cyprus in block 10 of its exclusive economic zone.

Government spokesman Prodromos Prodromou told Phileleftheros daily that the government has reasons to be optimistic about future gas finds, while stressing it is crucial that the results of recent exploratory drilling are known before drawing final conclusions.

Prodromou also said the expected approval of a bill on the Hydrocarbons Fund, will be a response to Turkish Cypriot claims that Greek Cypriots are abusing their right to their share of benefits from the natural gas wealth.

He said that Nicosia will not bow to Ankara’s threats and illegal operations in the Cypriot EEZ.

Taking into consideration Turkey’s show of aggressiveness and their logic of escalating matters we are witnessing, doubts are being formed over whether Turkey is willing to negotiate on the Cyprus problem, said Prodromou.

Asked about what to expect over the coming period regarding the search for hydrocarbons in Cyprus’ EEZ, Prodromou said that everyone should wait for the announcements regarding recent drills.

He added once the European Commission has expressed their views regarding the $7 bln EastMed gas pipeline, the relative agreements will also be signed.

Source: The Financial Mirror