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Oil search crisis with Cyprus at the door August 3, 2007

Posted by grhomeboy in Cyprus Oil Crisis.

Turkish State Petrol Co (TPOA) said that its seismic search for oil and natural gas in eastern Mediterranean would continue for one to two years, NTV MSNBC, Turkey reports.

In response to the Republic of Cyprus’ Government completing its tender for oil exploration in the eastern Mediterranean Sea, Ankara said Friday that it would also act. TPOA will announce the company that will carry out the search activities in the region by the end of this month. The Republic of Cyprus has announced that it would open the tender for oil and natural gas exploration in same area by August 16.

TPAO officials say that there was a great interest in the project by foreign companies and consortiums. TPOA underlined that it has a certificate to carry out the search activities in the designated area of 12 miles in shallow water. However, the same sources say that it would difficult for the Republic of Cyprus to carry out search activities in areas that have border problems.

Ankara has given a strong response to such attempts by the Cyprus Government and when the issue was raised few months ago by the Cyprus Government, Ankara sent war ships to the area.

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