Thursday launch for bids on Cyprus LNG exploration

Cyprus will kick off its first international offshore bidding round for 11 southern exploration blocks for liquefied natural gas (LNG) on Thursday, as representatives of international oil exploration companies will convene in Nicosia to hear government officials release details and technical specifications.

The event will start with official speeches, followed by technical presentations by experts from the Ministry of Commerce and Industry and briefing about the Cyprus hydrocarbons law and relative legislation.

The first round for the submission of applications for tenders for research and hydrocarbon exploitation will end on July 16, while the second phase of appraisal of the bids will conclude six months later.

Two more exploration blocks will remain undeveloped at the present stage.