9 companies.
3 consortia.
Every licensed block in the Cyprus EEZ belongs to one of 3 partnerships. They hold different acreage, chose different export routes, and will reach production years apart — which is the whole story of Cypriot gas.
Who holds what
Three partnerships, three export bets, three timelines.
The biggest resource concentration in Cypriot waters, and the slowest route to it. The export concept — LNG-led — gets fixed only at FID.
The same two companies across all four blocks, alternating who operates. Their Cronos tie-back to Egypt is the fastest and cheapest route any Cypriot field has.
Chevron inherited the island's first discovery when it bought Noble Energy in 2020. Egypt has contracted the entire output; only FID stands between it and construction.
The Cyprus Hydrocarbons Company holds no acreage and drills nothing. It manages the Republic's commercial interest — marketing the state's share of gas and sitting on the other side of every export negotiation these consortia enter.
CHC profile →KOGAS held 20% of Blocks 2, 3, 9 alongside Eni and TotalEnergies. When the exploration terms lapsed on 31 January 2025, the Korean state company exited Cyprus entirely — and those blocks went back to the Republic. No other company has walked away.
KOGAS profile →All companies
International oil companies
ExxonMobil
XOMUnited States
One of the world's largest publicly traded oil and gas companies. Operator (60%) of Block 10 with QatarEnergy, home to the Glaucus (2019) and Pegasus (2025) discoveries — an estimated 7–9 tcf declared a commercial discovery in June 2026. Also holds Block 5, where the Elektra-1 well found non-commercial gas in 2025.
ENI S.p.A.
ENIItaly
Italian multinational energy company. Operator of Blocks 6 and 8 and partner in Blocks 7 and 11, with the Calypso, Cronos and Zeus discoveries. Eni relinquished Blocks 2, 3 and 9 in early 2025 when their exploration terms lapsed, and is advancing Cronos toward development via Egypt's Zohr facilities.
TotalEnergies SE
TTEFrance
French multinational integrated energy company. Operator of Blocks 7 and 11 and partner in Blocks 6 and 8 alongside Eni. Also entered Lebanon's Block 8 exploration permit in January 2026.
Chevron Corporation
CVXUnited States
American multinational energy corporation. Operator (35%) of Block 12 containing the Aphrodite gas field, Cyprus' first major discovery. Cyprus approved Aphrodite's development plan in February 2025 and Egypt initialed a 15-year term sheet for the field's full output in April 2026, with FID targeted for late 2026-2027 and first gas around 2030-31.
Shell plc
SHELUnited Kingdom
British multinational oil and gas company. Partner (35%) in Block 12 (Aphrodite) through BG Cyprus.
National oil companies
Cyprus Hydrocarbons Company (CHC)
Cyprus
The state-owned national hydrocarbons company of the Republic of Cyprus, established in 2014. CHC manages the state's commercial interests in the EEZ: it participates in gas commercialization and export negotiations (including the Aphrodite–Egypt and Cronos–Zohr arrangements), advises the Ministry of Energy on licensing and development plans, and is the vehicle through which the Republic would hold participating interests in producing fields. Unlike the international operators, CHC holds no operated blocks — its role is commercial stewardship of the state's share of Cypriot gas.
QatarEnergy
Qatar
State-owned energy company of Qatar. Partner (40%) with ExxonMobil in Blocks 5 and 10, co-owner of the Glaucus and Pegasus discoveries declared commercial in June 2026.
KOGAS
South Korea
Korea Gas Corporation, a state-owned company. Former partner with Eni in Blocks 2, 3 and 9; KOGAS exited Cyprus in early 2025 when those licences lapsed.