The start of drilling in Block 5 of the Cyprus EEZ by the consortium of EXXONMOBIL and QATAR ENERGY was announced by Cypriot President Nikos Christodoulides.

As Mr Christodoulides notes, Cyprus aspires to become the alternative source of gas supply for the needs of the EU.

The Navtex issued by the Republic of Cyprus is valid until June. Various studies and measurements will follow in order to take the next steps, which will depend on the quality and quantity of the deposit.

Turkey, despite the problems it has caused in other cases, has this time indicated that the drilling site is not in an area where its rights are affected but is closely monitoring the development.