Major companies from Japan, Australia and Latin America to jointly explore for oil in Seychelles

Abu Dhabi June 22, 2015: Seychelles is negotiating with the Abu Dhabi Airports Company (ADAC) to build a new airport in its capital Victoria, considering the strong relations with the UAE under the leadership of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, the President of Seychelles has said.

HE James Alix Michel said Abu Dhabi has provided his country with nearly Dh200 million in financial aid over the past 10 years to support its efforts to tackle economic problems, adding that the assistance was ordered by HH Sheikh Khalifa and supported by His Highness General Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces.

He said that as a result of such grants, Seychelles is entering a new stage of development involving infrastructure, services, housing energy, water and electricity.

"We are also negotiating with ADAC to construct a new airport in Victoria near the existing airport...we are about to reach agreement on this important economic and tourism project on an investment basis...we expect this project to largely boost airport traffic and the number of tourists to our country," he said.

He noted that Etihad Airways and Seychelles airlines currently operate 14 flights a week from Abu Dhabi to Seychelles airport while Emirates of Dubai operates 14 other flights.

He said that a UAE investment influx into Seychelles would support its economy and create thousands of jobs for citizens.

He revealed agreements with major companies from Japan, Australia and Latin America to jointly explore for oil in Seychelles and other areas, adding that his country is also cooperating with Abu Dhabi-based Mubadala in the oil sector.

"Some foreign firms have already started drilling in an area of around 18,000 square km off our coasts. If we make oil discoveries, then Seychelles will witness a new era of prosperity in all sectors," he said.

He said the UAE is playing a key role in development in Seychelles, referring to initiatives by HH Sheikh Khalifa to build houses, schools and kindergartens, hospitals and other facilities in Seychelles. He also cited HH Sheikh Khalifa's initiative in renewable energy projects, which he said would enable Seychelles to secure clean energy round the year.

He noted that the UAE's Masdar company has recently launched a wind energy unit in Victoria port with a capacity of six MW, the first of its kind in Seychelles.

"This station is an important step in Seychelles' efforts to achieve its ambitious target to generate 15 per cent of its energy needs through renewable energy sources by 2030."

He said the project was funded by the Abu Dhabi Development Fund which extended a grant of around Dh102.8 million, adding that Masdar has handed over the project to the Seychelles government which operates and maintains the facility.

"The UAE's assistance in this field to Seychelles and other Indian Ocean and Pacific countries reflects a wise vision by the leadership to help poor countries ensure their energy needs," the President said.

"The renewable energy diplomacy by the UAE also supports security and stability of these countries and curbs human trafficking and piracy operations as well as ethnic and religious fanaticism," he added.

He said the security of the Indian Ocean is part and parcel of the UAE leadership's policy aimed at maintaining and protecting peace and stability in this region. "We are all partners with the UAE in this great mission," he said.

He stressed that restoring stability and security to Yemen and Somalia is essential for building "real security" in the Indian Ocean region.

He also stressed the importance of a UAE decision to fund the construction of a naval military headquarters for the Seychelles army in his country, adding that such a decision embodies the strong friendly ties between the two countries.

"These bases will bolster Seychelles' capability and allow to respond to any naval threats," he said, adding that the UAE is seeking to provide more support for Seychelles to enable it to combat piracy and human trafficking.

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© Press Release 2015