BG International

Greek Cyprus has launched a third licensing round for offshore oil and gas drilling off the Mediterranean island's southern coast.

"The decision to launch this licensing round was based on the huge interest by international companies to carry out explorations offshore Cyprus despite the energy industry's not so favorable conditions," said government spokesman Nicos Christodoulides.

Greek Cyprus said on Feb. 16 it was planning a third offshore licensing round for hydrocarbons exploration in the eastern Mediterranean, moves which have triggered opposition from Turkey in the past.