An environmental impact report commissioned by the Ministry of Commerce, Industry and Tourism of the Republic of Cyprus in conformity with the Assessment of Impact on the Environment from Certain Plans Law 102 (I) of 2005, was published on 15 November 2008 and is available on the Ministry’s website.

In March 2009, the Hydrocarbons (Prospecting, Exploration and Production) Regulations 113 of 2009 were published in the Official Gazette, amending the existing Regulations issued in 2007. The regulations collectively provide detailed rules on the types of licences available and the procedural requirements that must be satisfied in the course of hydrocarbon exploration and exploitation activities.

An overview of the applicable legal regime is given in two articles written by members of our shipping department. These are “Ready, Steady, Drill: the legislation governing the race for Cyprus’s offshore hydrocarbons reserves”, International Company and Commercial Law Review 2007, 18(12); and “Establishing the Boundaries: Cyprus’s offshore oil, gas and shipping industries”, Lloyd's List Cyprus, September 2005.

Recent changes to government policy on ship registration will also affect the energy sector, particularly the introduction of a new category of vessel, “Ships Engaged in Activities not Previously Mentioned and Non Self-Propelled Vessels”. Vessels in this category include offshore supply vessels, research ships, tugboats and mobile offshore drilling units.

Our shipping department has extensive experience in providing legal support in energy related matters, including the carriage of oil and gas by sea, the drafting of appropriate charterparties and the registration of companies and ships in Cyprus.

For further information contact Panayiotis Neocleous or Costas Stamatiou.