Turkey Threatens Reprisals over Cyprus O&G Drilling

Turkey is demanding that oil and gas companies bidding for licenses to search for oil and gas off Cyprus withdraw their applications with the Greek Cypriot administration on the Mediterranean island, according to news agencies.

Several major companies, including Italy's ENI, France's Total and Malaysia's Petronas, are among 15 companies and consortia seeking licenses to carry out exploration off southern Cyprus.
Cairn Energy revealed Thursday in a trading statement to the London Stock Exchange that it was part of a consortium taking part in the current offshore Cyprus bidding round. Cairn, which holds a 40-percent share in the bidding consortium, is partnered with Marathon Oil Company (40%), CC Energy (10%) and Oranje-Nassau Energie (10%).
However, Turkey is reported to have threatened reprisals against companies involved on Friday.
Cyprus has been divided since 1974, after Turkey invaded the north of the island. But only the southern, Greek Cypriot-controlled part of the island has an internationally-recognized government.
Turkey says any exploration would be an abuse of the rights of Turkish Cypriots to the same resources and it has retaliated by launching its own exploratory drilling in the breakaway Turkish Republic of Northern Cyprus.
According to Dow Jones Newswires reports, Turkey's foreign ministry said: "Despite our warnings, companies cooperating with GKRY [the Greek Cypriot administration] on natural gas by ignoring the Turkish Cypriots' rights will cause tensions in the region and the companies in question will be responsible for it."
The foreign ministry is reported to have added that companies cooperating with the Greek Cypriot administration will not be included in energy projects in Turkey in the future.
Dow Jones Newswires contributed to this report


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jacoon | Jul. 9, 2012
Everyone should know that oil&gas reserves on question are islands reserves and not solely belonging to one community, Greek Cypriots. Turkish Cypriots should also have rights as the Greeks have. Turkey is the guarantor country of Turkish Republic of Northern Cyprus, so has eventual rights to grant energy security of the TRNC. However in this disputed condition no sound solution can be achieved. The only solution benefiting both communities as well as the whole mediterranenan region is an equal rights based governance with unification in the island. Thats why Greek Cypriots should be persuaded to give up their ambitious and one-sided plans and to reach a reasonable, peaceful compromise.

Deepwater805 | May. 21, 2012
Turkey is acting like a recalcitrant little child. Why do they think that they own the rights to these blocks? The Cypriots own the rights, and other then having a big army, and belligerent government, they have no right to tell anyone anything outside of their territorial waters. Which Cyprus is not in. Grow up Turkey!

Mike | May. 21, 2012
It is not only the part of the Greek Cypriots recognised but the whole island and turkey is no part of it. Its just a game in order that Turkey is included in the pie of earnings but Turkey has no exploitation rights in the area... Its just another turkish act trying bullying every country. That should be an example in the European Union that they are considering to allow Turkey into the EU.


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