Country Report
Cyprus upstream summary
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Cyprus is a global exploration hot spot with a focus turning to development. Over 12 tcf of gas resources have been discovered since the early 2010s at a string of large and giant ultra-deepwater fields. Commercialisation is challenging as domestic demand is low and development will target gas export markets. A number of IOCs are present, including Chevron, Eni, TotalEnergies, ExxonMobil, Shell and QatarEnergy. Despite an ongoing territorial dispute and geopolitical tensions with Türkiye, there is still appetite from these companies to progress exploration and appraisal plans.
Table of contents
-
Majors
- Chevron
- ExxonMobil
- Shell
- Introduction
- Tectonic activity
- Sinai-Levant basin
- Nile Delta basin
- East Mediterranean basin
- Eratosthenes Platform basin
-
Licensing
- Overview
-
Recent licensing
- Ad-hoc PSC awards
- Relinquishments (2025)
-
Historical licensing
- First licensing round (2008)
- Second licensing round (2012-2013)
- Third licensing round (2016-17)
- Türkiye and the Turkish Republic of Northern Cyprus (TRNC)'s unrecognised territorial claims
-
Drilling
- Drilling activity
- Eni-operated
- ExxonMobil-operated
- Chevron-operated
- TotalEnergies-operated
- 16 more item(s)...
Tables and charts
This report includes the following images and tables:
-
Cyprus - major basinsCyprus - gas productionMap of territorial claims in Cyprus' exclusive economic zone
-
Remaining Reserves and Contingent Resources at 01/01/2026Net Acreage 2026Cyprus - licence mapCyprus - E&A drilling activityReserves by Basin at 01/01/2026Resources by Sector at 2026
What's included
This report contains:
Other reports you may be interested in
Country Report
Cyprus upstream summary slides
To complement our more detailed Cyprus upstream summary we provide a slide-pack of the key issues in Cyprus.
$4,080
Country Report
Namibia upstream summary
Global exploration hotspot in 2022. Shell, TotalEnergies, Galp Energia have proved potential of the Cretaceous deepwater turbidite play.
$4,080
Country Report
Somalia upstream summary
Somalia's nascent upstream industry faces above-ground challenges. No oil or gas discoveries have been made. Concerns about ...
$4,080
