The discovery of hydrocarbons in the Exclusive Economic Zone of Cyprus has produced a huge leap for Cyprus in the offshore exploration sector. The advantages and the benefits for Cyprus in the energy sector for the future are multiple. Due to the discoveries in the geographical location of the Island, which connects it to Europe and the Middle East, Cyprus has attracted worldwide concentration in the area generating economic business growth. Given the several exploration licences which have been granted for the various blocks within the Cyprus Exclusive Economic Zone the investment and development in the area will only increase and continue.
Elias & Co recognises this continued growth in the area and is able to support its clients in this evolving sector. Due to our vast expertise in oil and gas projects, both on a contentious and non-contentious level, Elias & Co provides through its legal advisory services including drafting, reviewing and negotiating oil and gas tenders all the way up to the tender award and contract signing including all consequential agreements thereto such as oil and gas support service agreements. Our primary aim is to safeguard our clients’ interests and to minimise their risk and exposure to the best extent possible.
For any assistance on Energy, you can contact our legal team here.