Deadline on discussions with Chevron over "Aphrodite" gas field extended to December 1

07:28 - 28 November 2023

Economy Reporter

Chevron Corp, the operator of “Aphrodite” gas field has been given a new extension to reply to the Cypriot government by 1 December concerning the discussion for the reservoir’s development plan, Minister of Energy George Papanastasiou told CNA.

The Minister said that “there have been plenty of deliberations and more are under way with a view to finding a mutually agreed solution.”

Replying to a question, Papanastasiou said he believes that there will be a positive outcome to the issue.

As he noted, the crucial for the Republic of Cyprus is infrastructure, whereas the crucial for the company is the amount of investment, adding that the company is “striving to find a win-win solution.”

Papanastasiou refrained from elaborating on the discussions, noting that “any information may harm the negotiations under way.”

The initial development was submitted in 2019 by Noble Energy, the then gas field operator which has been acquired by Chevron. The new operator submitted a revised plan rejected by the Cypriot government at the end of August. The contract provided for 30 days of negotiation to resolve the dispute. Since then, several extensions have been granted with a view to finding a solution to the dispute.

(Source: CNA)

Deadline on discussions with Chevron over "Aphrodite" gas field extended to December 1

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