• 3 minutes Will Iron-Air batteries REALLY change things?
  • 7 minutes Natural gas mobility for heavy duty trucks
  • 11 minutes NordStream2
  • 10 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 4 hours U.S. Presidential Elections Status - Electoral Votes
  • 2 hours Evergrande is going Belly Up.
  • 13 hours Australia sues Neoen for lack of power from its Tesla battery
  • 2 hours Is China Rising or Falling? Has it Enraged the World and Lost its Way? How is their Economy Doing?
  • 1 day Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 22 hours Oil Price: does the security vacuum in the Middle East spook investors?
  • 2 days Europeans and Americans are beginning to see the results of depending on renewables.
  • 5 days The unexpected loss of output from wind turbines compels UK to turn to an alternative; It's not what you think!
  • 6 days Poland Expands LNG Powered Trucking and Fueling Stations
  • 2 days Forecasts for Natural Gas
  • 4 days Ten Years of Plunging Solar Prices
  • 5 days Extraction of gasoline from crude oil.
Shell Exits Permian In $9.5 Billion Deal

Shell Exits Permian In $9.5 Billion Deal

Anglo-Dutch oil supermajor Shell is…

Turkey’s Navy Threatens To Sink Eni Drilling Ship Offshore Cyprus

Turkish Navy vessels threatened on Friday to sink a drilling ship that oil major Eni has hired to explore for oil and gas offshore Cyprus—a divided island whose northern part is run by Turkish Cypriots and is recognized only by Turkey.

According to local media reports, four or five ships of the Turkish Navy tried to prevent Saipem’s 12000 drilling vessel from performing exploration in the Exclusive Economic Zone (EEZ) of Cyprus.

Turkey, which recognizes the northern Turkish Cypriot government and doesn’t have diplomatic relations with the internationally recognized government of Cyprus, claims that part of the Cyprus offshore area is under the jurisdiction of Turkish Cypriots or Turkey.

After the Turkish Navy threatened to sink the drilling ship, the Saipem vessel maneuvered out of the area and set sail for Morocco, Greek newspaper Ekathimerini reports.

The straining of the relations in this part of the Mediterranean started a few weeks ago, after the Turkish Navy blocked the Saipem vessel hired by Eni.

Just days before that, Eni said that together with France’s Total, it had made a promising gas discovery offshore Cyprus, confirming that the Zohr-like play—where Eni found the biggest gas deposit in the Mediterranean offshore Egypt—extends into the Cyprus Exclusive Economic Zone.

Eni’s chief executive Claudio Descalzi said last week that the row is a diplomatic one and out of the company’s control.

On the sidelines of an event yesterday, Descalzi said that Eni would probably move the blocked drilling ship, but would not pull out of its project in Cyprus.

Related: Oil Prices Rise After EIA Reports Crude Draw

The President of the internationally recognized Republic of Cyprus, Nicos Anastasiades, said in a statement earlier this week that his country’s “goal is to fully explore Cyprus’s hydrocarbon potential, in the best terms possible, so as to maximize the benefits for all the people of Cyprus.”

Dismissing Turkish Cypriot and Turkey’s statements as “unjustified and unfounded”, Anastasiades said that “Finally, once more, I wish to publicly call on Turkey and the Turkish Cypriot community to immediately respond to my call to return to the negotiating table, provided that this is preceded by the termination of the violation of the sovereign rights of the Republic of Cyprus in its exclusive economic zone.”

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment
  • George on February 23 2018 said:
    Within the next two weeks - March 8th at the latest Exxon Mobil will be sending two survey ships to the area; if these are prevented from going to the site, you can expect the US to come down heavy on Turkey.

    At bare minimum any Turkish interference will result in US warships providing a military escort to Exxon which will stop the Turkish vessels meddling.

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News