Cyprus to launch new offshore oil and gas search
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Cyprus will launch a new licensing round for more exploratory drilling for offshore oil and gas in four to six weeks, an official said Wednesday, a move underscoring its right to search for energy sources which rival Turkey strongly disputes.
Government spokesman Stefanos Stefanou says the Cabinet authorized officials to prepare a call for bids to drill inside the island's 17,000 square-mile (51,000 square-kilometer) exclusive economic zone. "With today's decision ... the government once again stresses its determination to exercise its sovereign rights within the Cyprus Republic's exclusive economic zone always, according to international law," Stefanou said. (AP)
