NICOSIA: Cyprus announced Monday it has launched a second licensing round for offshore oil and gas exploration blocks despite the strong objections of Turkey.

The tender comes after U.S. company Noble Energy, the only firm to be awarded acreage in the first bid round, in 2007, announced a huge discovery in Block 12, 180 kilometers off the island’s south coast last year.

The find is thought to have stimulated keen international interest in the remaining 12 blocks inside the island’s delineated economic zone (EEZ).

After applications for the exploration permits have been evaluated, a shortlist of candidates will be drawn up and submitted to the Cabinet to decide who gets final approval, according to the announcement posted on the Commerce Ministry’s website.

“The decision on the applications for this second licensing round offshore Cyprus ... is expected to take place within six months from the date of submission of applications,” the ministry said.

Initial data announced by President Demetris Christofias in December indicated that between 140 billion and 224 billion cubic meters of gas reserves were locked beneath the sea bed in Block 12, where Noble is currently test drilling.

This would be enough to meet the island’s domestic energy needs for decades.