American company â€˜Noble Energyâ€™ began last night drilling in block 12 in Cyprusâ€™ Exclusive Economic Zone (EEZ), to explore and exploit the countryâ€™s sub-sea natural resources, Director of Energy Service at the Ministry of Commerce Solon Kassinis confirmed to CNA today.
Online PR News – 28-March-2012 – – Kassinis said that drilling takes place on a 24-hour basis and so far things are proceeding well.
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 was signed with Lebanon but the Lebanese Parliament has not yet ratified it.
Turkey, which occupies Cyprusâ€™ northern part since it invaded in 1974, has threatened it would deploy warships in the Eastern Mediterranean, if drilling takes places prior to a political settlement in Cyprus.
Houston-based company Noble Energy has a drilling rig off Cyprus` southern coast. The company has a concession to explore for hydrocarbons in an offshore field in Cyprus` EEZ, south of Cyprus, known as Block 12.CNA