Cyprus Is Making Another Attempt to Develop the Aphrodite Offshore Field
The Government of Cyprus has received a new plan for the development of the Aphrodite offshore field.
Partners in the Aphrodite offshore project (“Aphrodite“), American Chevron, British Shell and Israeli NewMed Energy have submitted to the Cabinet of Ministers of Cyprus a new plan for the development of deposits worth $4 billion, NewMed reported.
The companies have updated the previously submitted plan, as required by the island government. Now, according to the plan, production at the field will be carried out from an independent floating platform, it will amount to 800 million cubic feet (22.7 million cubic meters) per day. Methane will be sent via a gas pipeline to the Egyptian Gas Transportation System. It is unclear why to Egypt, and not to Cyprus, but in 2023, the Cypriot authorities rejected a plan with the same transport structure, and they rejected the plan submitted earlier this year.
The gas reserves at Aphrodite are 3.6 trillion cubic feet (102 billion cubic meters), the field is located 170 km from the Cypriot city of Limassol, near the Israeli Leviathan field, which is also being developed by a consortium led by Chevron.
Negotiations on the future development of the Aphrodite field have been dragging on since 2019, the previous plan was agreed by Cyprus and license holder Noble, an independent energy operator that Chevron bought later in 2020, writes Reuters.
