Middle East Economic Survey

VOL. L

No 46

12-November-2007

CYPRUS

Low Interest In Cyprus Offshore Bidding Round Attributed To Political Risk

The low level of interest shown by major international oil companies (IOCs) in the recent Cyprus offshore licensing round has led some observers to conclude that political risk is the key factor that caused some of the industrys main players to stay away from bidding on the 11 blocks that the Cyprus government tendered last February. When the bidding round...