CYPRUS AS A REGIONAL ENERGY HUB

Energy

We help our clients in the energy industry and respond to the opportunities and challenges this presents, especially as Cyprus continues to play a critical energy role in the region.

ENERGY COMPANIES IN CYPRUS

2007

The Government of Cyprus proceeded with its first licensing round for eleven offshore blocks.

13

Drilling blocks

5

Trillion cubic feet of natural gas reserves in Glaucus, Cyprus’s most recent discovery

The Oil & Gas scene in Cyprus

Recent developments in the oil and gas sector in Cyprus have attracted worldwide interest and the presence of leading energy companies as well as established international providers operating in the oil and gas auxiliary services sector. The recent discoveries are planned to connect Europe and the Black Sea with markets in the Middle East and Asia.

  • The hydrocarbon exploration and exploitation activities in the Republic of
    Cyprus are governed by the Hydrocarbon (Prospection, Exploration and Exploitation) Law of 2007 (No.4(I)/2007) and the Hydrocarbon (Prospection, Exploration and Exploitation) Regulations of 2007 and 2009
    (No.51/2007 and No.113/2009).
  • The legal framework applies to the territorial waters, the continental shelf
    and the Exclusive Economic Zone of the Republic of Cyprus.
  • The European Union Directive on the conditions for granting and using
    authorisations for the prospection,exploration and production of hydrocarbons (Directive 94/22/EC) and other relevant EU legislation applies to oil and gas activities in Cyprus.

Related Blog Posts

    We are proud to provide investors and businesses a safe pathway into Cyprus and Europe. The firm’s mission is to offer solutions on an extensive range of legal and financial matters, with high priority to professionalism and client satisfaction together with an interactive service and friendly approach.

    ADDRESS

    104 Agias Fylaxeos, Panayiotopoulos Court, Office 301, 3087 Limassol, Cyprus

    PHONE

    +357 25388999

    EMAIL

    [email protected]