Oil exploration to start, BOC target raised
The government has hired a Norwegian survey company for initial offshore surveys for oil and gas, while Bank of Cyprus saw its share price target raised by Deutsche to CYP 5.40, according to the issue 670, on May 10, 2006.
Petroleum Geo-Services will conduct 2D and 3D seismic surveys in an area of 60,000 sq.km. between Cyprus and Egypt to ascertain if there are hydrocarbon deposits. The results will be available from the second quarter and ahead of an