Page 6 - MEOG Week 34

MEOG COMMENTARY MEOG

Eastern promise stokes tensions

Turkish moves to explore for oil and gas in contested waters in
the Eastern Mediterranean have inflamed tensions in the region.

EAST MED TENSIONS have been escalating between wells in waters claimed by Cyprus. According to
Greece and Turkey over drilling in contested Turkish media, the country is also preparing to
waters in the Eastern Mediterranean, with the ramp up its drillship presence in Eastern Medi-
WHAT: French government bolstering its military pres- terranean waters.
Turkey’s push to explore ence in the region in recent days. European Union foreign ministers have held
for hydrocarbons This comes after Turkey sent the Oruc Reis urgent talks on the matter, with Turkey indicat-
in contested waters seismic research vessel, escorted by warships, ing a willingness to enter a dialogue with the bloc
is ratcheting up into waters between the Greek island of Crete over the issue. However, there is no sign of the
tension in the Eastern and Cyprus to explore for potential offshore gas tensions being scaled down as yet.
Mediterranean. and oil reserves last week. The move was spurred
by similar discoveries in other parts of the East- Offshore riches
WHY: ern Mediterranean. Greece claims that part of The Eastern Mediterranean region has been
Turkey has overlapping the area falls within its own continental shelf and attracting attention recently thanks to discover-
claims with Greece and has demanded that the ships withdraw, but Tur- ies – largely of natural gas – in waters belonging
Cyprus to certain waters key insists that it is entitled to conduct research to a number of countries. These include Egypt,
that it now wants to in those waters. Israel and Cyprus.
explore. On August 17, Turkey’s state-owned TPAO Indeed, interest in the region’s potential was
extended the drilling schedule for its Yavuz illustrated recently by Chevron’s announcement
WHAT NEXT: drillship offshore Cyprus to mid-September in that it would buy Noble Energy. The independ-
Thus far Turkey appears a move that appears set to ramp up tensions in ent’s Eastern Mediterranean assets, including
determined to complete the region further. Turkey has previously drilled stakes in producing projects offshore Israel and
its near-term exploration
plans, but international
pressure on the country
is growing. Syria
Nicosia Baniyas
Cyprus Homs
Gas fields
Tripoli
Oil fields
LNG Refinery Beirut
Port Lebanon
Aphrodite
Pipeline Damascus
Planned Pipeline Tamar
EEZ Border Zohr
Leviathan
Tel Aviv
Raven
Amman
Ashkelon

Idku
Damietta Arish Israel
Port Said Jordan
Suez Canal
Cairo

Egypt Taba Aqaba

100km
100miles

P6 www. NEWSBASE .com Week 34 26•August•2020