Contact details:
Ministry of
Energy, Commerce & Industry
6 Andreas Araouzos str.,
1421 Nicosia, Cyprus
W: www.mcit.gov.cy
Dr Stelios Nicolaides
Director
Hydrocarbons Service
T: +357 22 409310
E: [email protected]
HYDROCARBONS Service
The Hydrocarbons Service is responsible for the implementation of the political decisions of the Government,
which aim at the optimum and sustainable development of the hydrocarbon resources of Cyprus, in order to
contribute towards maximizing the state revenues and boost the country’s economy for the benefit of the
Cypriot society and the future generations.
The vision of the Hydrocarbons Service is for Cyprus to have a leading role in energy issues at the wider
Southeast Mediterranean region contributing to the sustainable development of the economy and the welfare
of all of its citizens.
The main responsibilities of the Hydrocarbons Service are related to the prospection, exploration and
exploitation of hydrocarbons in the territory of the Republic of Cyprus, not only at a regulatory level but at an
operational level as well, and for strengthening the geostrategic role of Cyprus in the region.
* Development of international relations
The Hydrocarbons Service, in cooperation with the Ministry of Foreign Affairs, aims at strengthening the
geostrategic role of Cyprus in the region through a) promotion of a stable investment climate in the region and
therefore of investments in the hydrocarbons’ sector, b) participation and organization of seminars and
meetings with other countries on aspects related to hydrocarbon exploration and exploitation, and c) by
actively participate in the EU’s initiative for the establishment of the Euro-Mediterranean Gas Platform
(EMGP).
* Policy creation and coordination and legislative framework
All activities related to the hydrocarbon exploration and exploitation are performed in line with the relevant
international, European and national legal framework and the international best practices applied by the oil
and gas industry. The Hydrocarbons Service is in close cooperation with other competent authorities for
monitoring the implementation of the relative legislation, as well as for updating the national legislation.
* Monitoring and supervision of hydrocarbon activities
The Hydrocarbons Service is primarily dealing with the monitoring and verifying compliance of the licensees
with their contractual obligations and by supervising the implementation of their exploration and exploitation
programs.
* Development of skills and knowledge of the public sector for the hydrocarbons
The Hydrocarbons Service also deals with more specialized issues regarding the interpretation, the
management and storage of sensitive data, requiring thus additional resources in infrastructure related to
technology as well as skilled personnel. In addition, having in mind that the national labour force, in order to
support the emerging oil and gas industry in Cyprus, need to obtain the relative skills, knowledge and
expertise, the Hydrocarbons Service is assessing these needs and is developing the necessary training and
educational programs to achieve this goal.