Malta and Libya at odds over offshore exploration
8th July 2008
A note in the annual report of Canadian oil company has revealed that friction continues between Libya and Malta over the sovereignty of undersea resources in the joint off-shore zone, and that an exploration licence awarded by Malta to Heritage Oil International Malta Limited has met with opposition from the Libyan government, which claims that the area involved lies within the Libya Continental Shelf.
Libya's National Oil Company is said to be taking a hard line on what has become a long-running feud concerning the disputed Melita bank. Libya argues that the dividing line in this off-shore zone lies some 192 miles from the Libyan coast and 24 miles from the Maltese coast.
Proceedings in the International Court of Justice in 1985 did not conclude the totality of the maritime dispute between the two countries, not least because Italy has ownership in the eastern part of this basin and was not a party to proceedings.
The Malta Times reports that it is widely regarded within the country that the way through to an agreement between the two countries lies with the prospect of a joint exploration agreement. However, the exploration activities of at least one other company (Pancontinental Oil), licensed by the Maltese government to survey prospects, have been postponed, at the request of the government, pending the resolution of the dispute.
A note in the annual report of Canadian oil company has revealed that friction continues between Libya and Malta over the sovereignty of undersea resources in the joint off-shore zone, and that an exploration licence awarded by Malta to Heritage Oil International Malta Limited has met with opposition from the Libyan government, which claims that the area involved lies within the Libya Continental Shelf.
Libya's National Oil Company is said to be taking a hard line on what has become a long-running feud concerning the disputed Melita bank. Libya argues that the dividing line in this off-shore zone lies some 192 miles from the Libyan coast and 24 miles from the Maltese coast.
Proceedings in the International Court of Justice in 1985 did not conclude the totality of the maritime dispute between the two countries, not least because Italy has ownership in the eastern part of this basin and was not a party to proceedings.
The Malta Times reports that it is widely regarded within the country that the way through to an agreement between the two countries lies with the prospect of a joint exploration agreement. However, the exploration activities of at least one other company (Pancontinental Oil), licensed by the Maltese government to survey prospects, have been postponed, at the request of the government, pending the resolution of the dispute.