Cyprus to Commission 3D Seismic Surveys
Cyprus will soon commission three-dimensional surveys of the Mediterranean seabed south of the island after early indications there could be oil and gas reserves in the area, Cyprus Mail reported. Cyprus, which has not explored for hydrocarbons before, has seismic data which calls for further research in an area south-west of the island. Norwegian company Petroleum Geo-Services (PGS) concluded two-dimensional research of a 60,000 square km offshore area in early May. The surveys would form the basis of a licensing round at the end of 2006. Upon conclusion of the 3D surveys authorities will divide the area into blocks and companies could bid for exploration rights, executable within two years of a company being awarded a contract. (Source: Cyprus Mail)
Ferries to Greece Back on Schedule
Louis announced that ferry services to Greece have resumed for the summer season. The cruise ship Princessa Marissa would be offering ferry services to Piraeus and Rhodes for the second year in a row following a hiatus of around five years. Ferry services between Cyprus and Greece were suspended after violence flared in Israel during the second intifada. The service used to run from Piraeus to Limassol before ending in Haifa, and most of the demand for ferry services was from Israelis wanting to travel to Greece or take their cars to Europe. However, when Israelis stopped traveling, demand from Cyprus was not enough to keep the services running. Last year was the first time the Princessa Marissa resumed schedule under a pilot scheme that was to run until September.
Turkish Ban on Cyprus Ships Pose Problems
According to Cyprus Mail, The Cyprus Shipping Council (CSC) reported that the Turkish ban on Cypriot vessels is the number one problem for the shipping industry. CSC said the ban had caused hundreds of ships over the years to re-flag out of Cyprus and prevented hundreds of other ships from using the Cyprus Registry and that the issue had now become a European one since Turkey signed the customs union protocol with the 10 new member states. However, Ankara still refuses to lift the ban on Cypriot ships. The CSC president, however, welcomed the EU’s counter-statement in October last year that clearly said the embargo on Cypriot ships must be lifted within 2006.
