Cyprus News Agency: News in English, 12-05-04

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From: The Cyprus News Agency at <http://www.cyna.org.cy>

CONTENTS

[01] Official applications for second gas licensing round to be announced

on May 11

[02] Cyprus is the corridor of Israel to the West, FM remarks

[03] EP's ECON looks forward to a successful Cyprus EU presidency

[04] Number of unemployed persons increased

[01] Official applications for second gas licensing round to be announced on May 11

In December 2011, President Christofias announced that the results of the exploratory drilling in Cyprus` block 12 were positive, describing the discovery of hydrocarbons as historic for the island. US company Noble Energy, which carried out the drilling, discovered 310 feet of net natural gas pay. The drilling reached a depth of 19,225 feet in water depth of about 5,540 feet.

The initial data that emerged from the exploratory drilling and the evaluation checks carried out indicate the existence of a natural gas reservoir ranging from 5 to 8 trillion cubic feet (tcf) with a gross mean of 7 tcf. Cyprus has also launched a second licensing round for the 12 remaining blocks in its Exclusive Economic Zone.

Sylikiotis said that there are sound indications that big companies will express their interest, noting that many companies have purchased the seismographic data, participated in the official presentations held in Huston, London and Rome, have had contact in Cyprus and have posed questions to the Ministry, adding that the answers at these questions have been posted on the Ministry's website.

Sylikiotis noted that the process followed is open and transparent, adding that "meetings and contacts that we have with big companies from many regions of the planet indicate that they will expressed their interest in the second licensing round".

The Minister noted that after May 11 the process will move on with a view to use oil reserves that have been discovered and those for which there are indications in Cyprus' Exclusive Economic Zone, in the best possible way.

[02] Cyprus is the corridor of Israel to the West, FM remarks

In a speech before the American Jewish Committee Global Forum, in Washington DC, yesterday, she said that the fact that she is the first Foreign Minister of Cyprus to address the AJC Global Forum, "represents a turning point in our relationship with the AJC and perhaps even with the American Jewish community at large".

She expressed the "hope that the peace process in the Middle East will resume soon, leading to peace and creating conditions that will allow the friendly people of Palestine to live in their own state, and the friendly people of Israel in their historic homeland, in conditions of security".

During the past three years, she said, "the relationship between Cyprus and Israel has drawn much media attention and became the subject of discussion at various political, economic and academic fora. Indeed, there has been a flurry of activity with an impressive exchange of high level visits, starting with the visits of President Christofias and President Peres last year and the visit of Prime Minister Netanyahu this year, the latter being the first ever visit of a Prime Minister of the State of Israel to Cyprus since the Independence of Cyprus in 1960".

Marcoullis said that last August, she paid an official visit to Israel, three weeks after her appointment as Foreign Minister and Foreign Minister Lieberman paid recently a reciprocal visit to Cyprus, almost all Ministers of the Cyprus Cabinet and many other senior officials visited Israel during the last two years and over 30 bilateral agreements have been signed.

[03] EP's ECON looks forward to a successful Cyprus EU presidency

She added that "you are responsible in your particular instance for having to bring together the views of all of the member states in the Council and then once you have succeeded in doing that you have to join with me in the ‘Trilogues', in bringing together the views of the Parliament and the Council".

"You have shown enthusiasm for this task, you understand what it entails and I am sure that you will have a very successful presidency", Bowles noted. She highlighted the fact that "there is an unprecedented amount of work that will fall to you".

Addressing the press conference Shiarly said that he had "a very constructive meeting that took place in a very excellent atmosphere and which covered the whole spectrum of issues and subjects that will be dealt with during the presidency of Cyprus".

He added that amongst others the agenda included specific issues under the areas of the financial sector and taxation.

``Given the preparation that has been done today and also the support that we see forthcoming from Europe generally but also from the EP it makes me feel very confident as of today that we can achieve a very good presidency``, he stressed.

[04] Number of unemployed persons increased

According to Cyprus` Statistical Service, based on the seasonally adjusted data that shows the trend of unemployment, the number of registered unemployed for April 2012 increased to 35.330 persons in comparison to 34.270 in the previous month. In comparison with April 2011, an increase of 8.487 persons or 31.5% was recorded.

This was mainly observed in the sectors of construction (an increase of 1.998 unemployed persons), trade (an increase of 1.921), manufacturing (an increase of 1.280), public administration (an increase of 819), accommodation and food service activities (an increase of 809), as well as to newcomers in the labour market where an increase of 132 unemployed persons was recorded.

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