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Greek Cyprus receives bids for offshore licenses
09/17/2007
During 2006-08 the Republic of Cyprus will have completed its first hydrocarbon prospectivity assessment off its coast to promote exploration, launched two licensing rounds, and granted exploration licenses for the first.This speedy program was outlined in Paris Sept. 5-6 at the North African Oil & Gas Summit organized by London-based Energy Exchange Ltd. IHS Energy’s director for industry relations Andrew Hayman described the exploration strategy of Cyprus as “North Africa’s contribution to European security of energy supply.”Cyprus decided to exploit its resources after the northeastern Mediterranean island became part of the European Union in January 2004. &...
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