The Firm’s ‘solid reputation’ as The Legal 500 confirm in their 2012 rankings - which they attribute amongst others to the expertise of our Managing Advocate – brings ANASTASIOS ANTONIOU LLC at the forefront of Cyprus Law Firms and solidifies our established presence in the legal services market of Cyprus.

Read more about why we are the Cyprus counsel of choice for so many multinational corporations and international law firms, explore our Practice Areas or find out about the Industries to which we provide our specialized legal advice and counsel on Cyprus Law, EU Law and International Law.

Media enquiries should be addressed to pr@antoniou.com.cy.

The Firm is a strong supporter of the development of the science of laws and as such our Lawyers regularly contribute to leading international legal journals and publications. As a responsible corporate citizen, the Firm is a Member of the Legal Sector Alliance,  an inclusive global movement of law firms committed to working collaboratively to take action on climate change by reducing their carbon footprint and adopting environmentally sustainable practices.

The quality of our legal services has led the Firm to join  EUROJURIS, the leading network of law firms in Europe, comprising of only the best law firms in more than 40 countries. Our EUROJURIS membership, along with our strategic alliances across the world, affords our Firm’s global reach, which is deployed in securing and advancing the best interests of our Clients.

Our Managing Advocate Anastasios A. Antoniou has been honoured with inclusion in the European Competition Lawyers Forum, a group of the leading practitioners in competition law from law firms across the European Union and a forum for senior practitioners and officials from DG Competition to engage in an open dialogue on the topical competition law issues of the day and to discuss areas for reform. As the Legal 500 confirmed in their latest rankings, our Managing Advocate is a pivotal reason behind the Firm’s solid reputation.

Our cross-area expertise and specialization in areas such as Competition Law and Merger Control, Energy Law and Oil and Gas Law, Intellectual Property Law, Private Investment Funds, Financial Services Law and Corporate Law, ensures that our Firm successfully navigates our Clients through the hurdles of modern challenges and that all of your legal needs, even the ones you might have not laid particular emphasis on, are satisfied at the highest value for your resources. Our main priority is to provide the full-range of legal services in relation to our practice areas, from legal advice, counsel and support to litigation before Cyprus Courts and tribunals.

Due to the above reasons, the Firm is increasingly becoming the preferred Cyprus Counsel for multinational corporations and international law firms. Indicatively, ANASTASIOS ANTONIOU LLC has handled Cyprus law matters for Clifford Chance, Freshfields Bruckhaus Deringer, Allen & Overy, Bird & Bird, Sidley Austin and other global law firms, while the Firm’s own elite Clientele (indicatively) includesWestern Union, Henkel, Travelex, Marathon Oil, the Czech Republic, PricewaterhouseCoopers, Tiande, DTEK Donbass, Tamares Telecom, the Republic of Cyprus, Czech Airways, ISS, KPMG, amongst others. We are also instructed by some of the largest US, European and Asian hedge funds and investment management organizations in relation to their Cyprus law requirements and our legal services to the investment management industry in particular.

ANASTASIOS ANTONIOU LLC has been recognized, awarded and ranked amongst the leading Cyprus Law Firms. It is Recommended as Leading Firm by the Legal 500, it has achieved the highest Preeminent Ranking in Martindale Hubbell’s Client Reviews and it is featured in Hieros Gamos, International Referral and Global Law Experts, amongst others.

Contact us at info@antoniou.com.cy to discuss your legal query.

Our Firm’s “solid reputation”, according to the Legal 500, is a testament to our uncompromising commitment to legal clarity and our dedication to the provision of the highest quality of legal services. Discover why we are the Cyprus Lawyers of choice in our practice areas of focus or read more about our core values and ethos, the driving force behind our establishment as the leading Cyprus Law Firm practising Competition Law and Merger Control, Energy Law and Oil and Gas Law, Intellectual Property Law, Private Investment Funds and Financial Services Law.

Within the domain of Public International Law, Cyprus has exhibited unprecedented conformity with the international legal framework in declaring its rights and enabling the exploration and exploitation of its offshore hydrocarbons. Cyprus ratified in 1988 the United Nations Convention on the Law of the Sea (UNCLOS) and bilateral agreements have been signed between the Republic of Cyprus and its neighbouring countries.

The Delimitation of the Exclusive Economic Zone of Cyprus has been agreed and signed with Egypt, based on the median-line principle and in accordance with the provisions of the UNCLOS. Likewise, an agreement has been signed with Lebanon and Israel. These bilateral treaties between Cyprus and Egypt (2003), Lebanon (2007) and Israel (2010) have been respectively concluded delimiting the Exclusive Economic Zone of Cyprus, which has been divided into 13 Exploration Blocks covering approximately 51,000 square km.

The Hydrocarbons (Prospection, Exploration and Exploitation) Law 4(I) of 2007 (“Law 4(I)/2007”) and the Hydrocarbons (Prospection, Exploration and Exploitation) Regulations of 2007 and 2009 (“Regulations”) govern the exploration and exploitation of hydrocarbons in Cyprus. Law 4(I)/2007 transposes Directive 94/22/EC in the national legal order of Cyprus, which EU instrument provides, inter alia, for the right of Member States to determine the areas within their which shall be made available for the activities of prospecting, exploring and exploiting hydrocarbons.

Pursuant to the aforesaid legislative framework, three types of licenses are available for successful contractors:

(a)    Prospection Licence

The Prospection License enables the licensed contractor to prospect, using the geophysical methodology at his disposal, towards the evaluation of the offshore hydrocarbon potential of Cyprus. With a maximum duration of 1 year, the prospection license does not allow any exploration operations.

(b)   Exploration Licence

The Exploration License is granted for an initial period of 3 years and is renewable for up to two terms of not more than 2 years each, which renewal however entails relinquishing 25% of the surface area for which the original period of 3 years was concerned with. It enables contractors to explore a particular block in Cyprus’ Exclusive Economic Zone.

(c)    Exploitation Licence

Exploration Licenses are issued for a maximum period of 25 years and are renewable for periods of 10 years, upon a relevant application at least 1 year prior to the expiration of the first period.

The first licensing round, procured in 2007 for the grant of Hydrocarbon Exploration Licences and subsequent Hydrocarbon Exploitation Licences (upon a commercial hydrocarbon discovery during exploration) concerned 11 Exploration Blocks within the EEZ of the Republic. Blocks 3 and 13 were excluded. The Licensing Round was based on the MC2D-CYP2006 seismic data that were acquired by PGS Geophysical in 2006. Upon extensive negotiations after the submission of the applications in the framework of the First Licensing Round, an Exploration License for Block No 12 was granted to Noble Energy International Ltd on the 24th of October 2008.

Further to 3D seismic survey which was acquired in 2009, the findings for Block 12 focus into a significant geological structure known as Cyprus-A prospect. Cyprus published its invitation for applications for hydrocarbon exploration licences and subsequent hydrocarbon exploitation licences in respect of certain acreage in the Exclusive Economic Zone of Cyprus in February 2012.

Exploration for oil and gas offshore the Republic of Cyprus is certainly in a developing phase and the opportunity for involvement is currently at its highest levels. A considerable amount of geophysical data that is publicly available, the stable business and political environment and the tax efficiencies (zero taxation on revenues from offshore hydrocarbon exploitation) result in Cyprus becoming a jurisdiction attracting worldwide interest in the energy industry.

Our Energy Law practice and Oil and Gas team is closely involved in the hydrocarbons developments in Cyprus in various capacities. For more information on the licensing of hydrocarbon exploration and exploitation or in relation to other energy developments in Cyprus, please contact our Energy Practice at energy@antoniou.com.cy.

The Firm is committed to legal clarity in all practice areas it is engaged to and is delighted that the high quality of its legal services are recognised in connection to the Oil and Gas and Energy industry. The fact that Cyprus has launched a second exploration licensing round for mineral deposits in its exclusive economic zone is a strong indication of how crucial Energy Law is becoming for market players active in Cyprus’ transformation as an energy hub. Cyprus has invited license applications in the next 90 days to search for mineral deposits inside 12 of 13 sections that together make up the island’s 19,700 square mile (51,000 square kilometres) exclusive economic zone off its southern coast.

Increased interest in the second round is expected, following Noble’s discovery of an estimated 5-8 trillion cubic feet (140-230 billion cubic meters) of natural gas in Block 12, the section not up for licensing in this second round. Our Firm, an award-winning Energy Law Firm is affords interested parties with legal advice, counsel and support in engaging in what seems certain to be a bright future for the energy industry in Cyprus.

Learn more about our Energy law practice and our Oil and Gas practice.

As per its annual practice, the Firm is the Cyprus contributor to Cartel Regulation 2012, which details in a clear and consice manner the provisions of the main legislation dealing with competition law in Cyprus, the Protection of Competition Law 113(I) of 2008. A new and intriguing element in this year’s contribution is our guidance on the Leniency and Immunity Programme of the Cyprus Commission for the Protection of Competition, which was enacted only late 2011.

Learn more about our competition law practice and our work in relation to unfair trading and anticompetitive practices.

Publication details:

Cyprus Chapter, Cartel Regulation 2012  (Reproduced with permission from Law Business Research Ltd. This article was first published in Getting the Deal Through – Cartel Regulation 2012, (published in December, 2011; contributing editors D Martin Low QC, McMillan LLP). 

In what can only be described as a definitive appraisal of its hard work and unparalleled expertise, the Firm is delighted with being awarded these prestigious confirmation of legal excellence. In particular, the Firm notes the importance of the Energy law award by DEALMAKERS at a time when Cyprus is highly touted as an upcoming energy hub, due to the discovery of extensive natural gas resources offshore the island.

Moreover, the Firm’s Managing Advocate Anastasios Antoniou is particularly satisfied with the receipt of the Cyprus Competition law award for 2012. Anastasios, a member of ECLF and a leading Cyprus competition lawyer, has expressed the view that more awards are yet to come for the Firm, the work of which has on numerous occassions been awarded for both its Merger Control and Concentrations practice as well as its Cartels and Unfair Trading practice and litigation.

Learn more about our Energy law practice and our Oil and Gas practice.

Learn more about our Merger Control practice and our Competition law practice.

Learn more about our Litigation practice.

The Firm had also been a major sponsor earlier this year of the EU Conference celebrating 20 years of EU Merger Control and continues to maintain its eminent position in Merger Control law and practice in Cyprus. Read more about the Firm’s publications on Cyprus Merger Control and Competition law.

Without limitation, the areas in which render our expert legal advice to the Energy industry include:

• Oil and Gas
• Electricity
• Renewable Energy Sources
• Commercial energy matters, distribution and transactions

Contact us to discuss your legal needs at energy@antoniou.com.cy.

Read our Information Paper on Electricity 

Read our Information Paper on Renewable Energy Sources