Strategic implications of Cyprus’ emerging oil and gas industry

Research output: Contribution to journalArticle

4 Citations (Scopus)

Abstract

Purpose: Utilising a substantial volume of reliable international literature, information and positions – as well as many, less credible, local ones – the research analyses and interprets theoretical, secondary and primary data that are specific, relevant or peripheral to Cyprus’ emerging oil and gas industry. The purpose of this paper is to predictively and prescriptively define the industry’s strategic implications; both at the public policy level and the business context. Design/methodology/approach: This research is purely exploratory and is methodologically based on the review, comparison and interrelation of an extensive array of theoretical and secondary data works; which is reinforced and refined through an injection of primary qualitative work in the form of 20 expert and high-level interviews. Findings: The findings regarding public management underline the need for transparent and synergistic collaboration between all industry actors, as the means to achieve the obvious associated advantages, but also to prevent these forces from becoming opposing, and consequently destabilising ones. Further implications were identified with regards to employment, incentives, education, funding, but also in relation to communications and perceptions. Regarding implications for businesses the research calls for proactivity, identification of opportunities, pursue of the “first movers’ advantage”; as well as a number of specific actions and approaches. Originality/value: The value of the research lies in its real-time approach to data gathering and analysis; and aids in the design and decision making regarding the industry for policy makers and businesses. The research bears also global/generic importance as it provides a rare insight to the issues and complexities of a country having to first deal with the discovery of hydrocarbons in its economic zone.

Original languageEnglish
JournalEuroMed Journal of Business
DOIs
Publication statusAccepted/In press - 1 Jan 2018

Keywords

  • Business development
  • Cyprus
  • Oil and gas industry
  • Planning
  • Public policy
  • Strategy

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