Are we sitting on fossil fuel reserves?

Some of our recent media concern about BP’s Libyan contract for offshore deep-water oil drilling sounded as if we had jurisdiction over Libya’s territorial waters. Perhaps what should concern us more is whether we could get BP to also drill in our territorial waters. But then, unfortunately, we still await Libya’s kind permission for us to access our claimed territorial waters, even after our Eddie Fenech Adami was reported to have been promised (during an official visit to our southern neighbour some time back) this matter would be resolved soon.

One hopes this is the main purpose of Muammar Gaddafi’s expected Malta visit, rather than just thanking us for services rendered in the recent Swiss-Libyan visa impasse.

It’s interesting that BP stated they had found oil when drilling in Naxxar in the 1950s but apparently not in commercial quantities, although those were the days when we had “British Go Home” graffiti and banners all over the island and on political party club balconies. Another oil company found gas in Gozo’s Kerċem a few years ago. Apart from wondering whether we are in fact sitting on enough gas for our own use (rather than having to buy it and ship it in), it all seems to indicate fossil fuel reserves are under us or close by.