The Cyprus Hydrocarbons Company (CHC) is the National Oil and Gas Company of Cyprus. It was established in its present form in March 2014. As a state-owned company, CHC is responsible for the commercial management of the upstream hydrocarbon ownership rights of the Republic of Cyprus that arise from the Production Sharing Contracts (PSCs), and will manage any commercial participation by the Republic of Cyprus in midstream infrastructure projects such as land-based LNG or pipelines.

Our Vision


Optimum exploitation of hydrocarbons reserves presents in the Exclusive Economic Zone of the Republic of Cyprus in order to maximize the benefits for the Cypriot Society and for future generations.
The company’s vision is compatible with the policy established by the Council of Ministers.



  • The commercial management of the ownership rights of the Republic of Cyprus (RoC) arising from the Production Sharing Contracts (PSCs).
  • Participates in the negotiations with potential Contractors for the conclusion of PSCs in support of the Ministry of Energy, Commerce and Industry (MECI).
  • Evaluates reports and deliverables provided by the Contractors in the PSCs, including Appraisal Reports and Field Development Plans in support of MECI.
  • Evaluates the potential of hydrocarbons in the EEZ of the RoC, evaluates the results of drilling activities and conducts economic analysis to evaluate the options and commerciality of hydrocarbon discoveries, in consultation with MECI.
  • Undertakes the management of assets for Contractors whose activities and PSC have been terminated, following the Council of Minister’s approval.
  • Evaluates the potential for commercial participation of the RoC in upstream gas pipelines or natural gas liquefaction infrastructure, following guidelines from the Minister of Energy.
  • Manages the ownership rights to upstream gas pipelines or liquefied natural gas infrastructure that the RoC holds or acquires, following guidelines from the Council of Ministers.
  • Participates or engages in hydrocarbon exploration and exploitation activities, following approval from the Council of Ministers.