The PSC governing the Oil and Gas operations of the Republic of Cyprus

The amendment and improvement of the Production Sharing Contract regime of the Republic of Cyprus is a core part of the optimal route that the government shall follow, whereby, the Hydrocarbons can be used as a strategic weapon not only to provide a solution to the domestic challenges, such as the recovery of economy and a solution of the Cyprus’ problem, but also to enhance the security of energy supply in the East Mediterranean and Europe in a peaceful and stable manner. Hence, the emphasis shall not be on how politics determine the way that energy shall flow but on how energy can cement the interests of a State.