published Mon, February 20, 2012
Greece ‘mulls offshore exploration’
Cash-strapped Greece could turn to offshore oil and gas resources as a way of digging itself out of debt with a senior politician floating the possibility of exploration.
According to UpstreamOnline, the economically embattled
Mediterranean nation may look to mimic its close cousin Cyprus
which has recently unearthed large gas reserves, Reuters reported
on Monday.
Antonis Samaras, leader of the Conservative New Democracy party,
said Greece should look at setting an offshore exploration
zone.
"We believe that Greece should undertake corresponding specific
initiatives such as those taken by the late [Cypriot] President
Tassos Papadopoulos in recognising an EEZ [economic exploitation
zone]," Reuters quoted Samaras as saying Cyprus.
"The existence of sub-sea wealth shows the depth of a common
strategy which can be developed between Cyprus and Greece on issues
of economy as well," he said.
"What is happening today with the EEZ of Cyprus is very
important to the Aegean, [and] to what could occur with the Greek
EEZ in the Aegean," Samaras added.
Any such move would potentially put Greece at loggerheads with
neighbour Turkey which also objected to Cyprus' exploration plans.
The island of Cyprus is split between the Turkish-controlled north
and the south, which remains closely linked with Greece.
On Monday EU ministers began talks on a securing a second
financial bailout for Greece with France's Finance Minister
Frederic Baroin saying all of the elements are in place for such a
deal
Date: 20/02/2012