The Cyprus Hydrocarbons Company (CHC) was established in March 2014 to undertake the commercial management of the ownership rights of the Republic of Cyprus (RoC) deriving from the Production Sharing Contracts (PSC's) that the RoC has entered into with Licensees in the Exclusive Economic Zone (EEZ) of the RoC.

CHC’s main responsibility is the marketing and sales of the share of hydrocarbons attributable to the RoC. At the same time, CHC supports the Ministry of Energy, Commerce and Industry in negotiating with potential Licensees for the conclusion of PSCs in the context of licensing rounds conducted by the RoC and in evaluating reports and deliverables provided for in the PSCs including Appraisal Reports on hydrocarbon discoveries and Development and Production Plans in the case where there is a commercially exploitable discovery. In addition, CHC evaluates the hydrocarbon potential in the EEZ of the RoC, carries out economic analyses for the evaluation of hydrocarbon options and marketability, evaluates the results of drilling carried out in the EEZ of the RoC and makes relevant recommendations to MECI. CHC is also increasingly involved in energy transition aspects.

CHC may also, under the guidelines issued by the Council of Ministers, participate with an ownership interest in a potential LNG terminal and LNG Liquefaction Plant and manage the ownership rights in upstream natural gas transmission pipelines or natural gas liquefaction infrastructure owned or acquired by the RoC. The operations of CHC may also expand to include owning participating interests and performing hydrocarbons exploration and exploitation operations.

CHC is a young company, currently undergoing a gradual expansion of inhouse technical capability and corporate memory.