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Cyprus and Chevron discuss path forward for 'Aphrodite' gas field

15:08 - 18 September 2024

Economy Reporter

The Republic of Cyprus and Chevron have agreed to hold discussions over the next four months in order to seek an amicable solution that ensures the development of the Aphrodite gas field without further delays.

A joint press release by the Ministry of Energy and Chevron says that George Papanastasiou, Minister of Energy, Commerce and Industry of the Republic of Cyprus, and Frank Cassulo, Chevron Vice President of International E&P, held constructive meetings this week in Nicosia regarding the Aphrodite project.

“I am pleased to announce that the Republic of Cyprus and Chevron have agreed to hold discussions over the next four months in order to seek an amicable solution that ensures the development of the Aphrodite Field without further delays,” the Minister of Energy said. 

He added that “our government is focused on advancing projects that benefit the country while the rights of the Republic remain of primary importance.”

Cassulo said that “we appreciate the productive engagements with the Cyprus government and look forward to advancing the development of the Aphrodite Field”. 

This agreement, he went on to say, "reflects our belief that it takes all stakeholders to align around a common goal and path forward for a complex energy project such as Aphrodite to succeed.”

Chevron Cyprus Limited holds a 35% operator interest in Aphrodite with partners BG Cyprus Limited (Shell) 35% and NewMed Energy 30%.

(Source: CNA)

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