It is a great pleasure to be here today for the signing of the “Offshore Cyprus Declaration of Commercial Discovery and Continued Collaboration Statement” between the Republic of Cyprus, ExxonMobil and QatarEnergy.

The signing of this declaration is an important milestone for offshore exploration in Cyprus’ Exclusive Economic Zone (EEZ), reaffirming both its significant potential and our shared commitment to the responsible development of the natural gas resources in Block 10.

In this context, allow me to extend a warm welcome to Cyprus to Mr John Ardill, ExxonMobil’s Vice President for Exploration and New Ventures, Mr Peter Clarke, Senior Vice President of ExxonMobil Global LNG, and Mr Ali Abdulla Al-Mana, QatarEnergy’s Manager for International Upstream and Exploration. I would also like to thank them for the productive meeting and constructive exchange of views we had earlier with His Excellency the President of the Republic, and to express our deep appreciation for the strong partnership we have built over the years.

The “Glaucus” and “Pegasus” discoveries represent two of the most significant achievements of Cyprus’ offshore exploration programme. Today’s declaration of commercial discovery marks the transition to the next phase of their development, bringing us closer to unlocking these valuable resources. At the same time, it further strengthens Cyprus’ position on the regional energy map and offers new impetus to the Eastern Mediterranean’s growing role as an emerging energy hub.

We are equally encouraged by the consortium’s interest in pursuing additional exploration opportunities within our country’s EEZ. The interest expressed in Blocks 4 and 10A is another strong vote of confidence in Cyprus’ energy programme, our country’s credibility as a reliable energy partner, and the prospects for expanding our successful cooperation.

Looking ahead, we remain committed to working closely together in the same spirit of trust, transparency and effectiveness that has brought us to this point. I am confident that our partnership will continue to deliver results that benefit not only the Republic of Cyprus and our licensees, but also the broader region.