The Cyprus Hydrocarbons Company (CHC) is the National Oil and Gas Company of Cyprus. It was established in March 2014. As a state-owned company, CHC has the mandate to act as the technical and commercial arm of the Government of Cyprus (GoC) on matters relating to exploration, production and monetization of Oil and Gas reserves from the Exclusive Economic Zone (EEZ) of Cyprus.

The geostrategic position of Cyprus has played a major role in shaping its history and contributed to its modern emergence as a key business hub in the Eastern Mediterranean. Cyprus has provided the catalyst for investments and services between Europe, Africa and Asia by developing one of the most secure, stable and attractive business environments in the region.

Oil and Gas Activities in the Cypriot EEZ
Recent Oil & Gas activities in the Eastern Mediterranean have revealed the possibility of significant hydrocarbons reserves in the area and also within Cyprus EEZ. With Egypt and Israel already established as hydrocarbons producers, Cyprus is in the process of fully exploiting its hydrocarbons potential and contributing to regional and European energy security.

• 2007: The Government of Cyprus proceeded with its first licensing round for eleven offshore blocks.
• 2008: Awarded one Hydrocarbon Exploration License to Noble Energy International LTD for offshore block 12.
• 2011: Exploration well drill by Noble in Block 12 leads to the discovery of the Aphrodite field with contingent reserves estimated between 5-8 tcf (trillion cubic feet).
• 2012: The Government of Cyprus proceeded with its second licensing round consisting of 12 offshore blocks.
• 2013: Total awarded two Hydrocarbon Exploration Licenses for offshore blocks 10 and 11.
• 2013: Appraisal well drilled by Noble and Delek group on Aphrodite field confirms a discovery of contingent reserves between 3.6 – 6 tcf
• 2016: BG Group (now part of Shell) joins the Block 12 Licence with a 35% shareholding
• 2016: The Government of Cyprus proceeds with its third licensing round consisting of 3 offshore blocks.
• 2017: The Government of Cyprus awards licenses for all three blocks on offer in the 3rd licensing round; ENI International and Total in Block 6, ENI International for Block 8, and ExxonMobil and Qatar Petroleum for Block 10

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