In a significant move that marks the resumption of its plan to explore and exploit its energy resources in the EEZ, the Republic of Cyprus today issued NAVTEX to begin drilling in Term 5. According to Cyprus NAVTEX 019/25, the drilling vessel VALARIS 9, which is already on site, will drill from today until June 19, in Block 5, at the HELEKTRA target for which there are very optimistic indications from the results of the preceding surveys.

In addition, the fact that the giant EXXON MOBIL, which, in a joint venture with Qatar Energy, holds the rights to this Plot, decides to start drilling at a time when drilling is being done sparingly – due to the high costs – proves that there are indications of the existence of a significant gas deposit.

The Republic of Cyprus’ program for exploration and exploitation of natural resources within its demarcated EEZ (with Egypt) has provoked reactions from Turkey and the pseudo-state, which aim to freeze all exploration activity and drilling within the Cypriot EEZ. Turkey directly claims even part of the demarcated Cyprus EEZ, while on behalf of the Turkish Cypriots it demands as a condition for any exploration that the consent of the pseudo-state must be obtained, even for areas south of the island.

The drilling by the US oil giant EXXON MOBIL is obviously a deterrent to further moves by Turkey, but it is not impossible that there could be a Turkish reaction by sending Turkish survey vessels to another area of the Cypriot EEZ, as has happened in the past. The start of the drilling coincides with the dramatic upgrading of the Republic of Cyprus’ relations with the US, including at the military level, which has also angered Ankara, and a few weeks before the UN Secretary General is scheduled to convene a multilateral conference on the Cyprus problem. The two NAVTEX issued impose a no-fly zone for the safety of navigation around the drilling rig and there is a warning that any violation will constitute “a criminal offence under the laws of the Republic of Cyprus and the 1982 International Law of the Sea.