A Chevron team has visited Cyprus today to talk about developing the Aphrodite field, in the island’s exclusive economic zone (EEZ).
Chevron Middle East, Africa, South America Exploration and Production president Clay Neff held talks with Minister of Energy Natasa Pilides and president of the House of Representatives Annita Demetriou.
A statement said the two sides affirmed their mutually beneficial co-operation on developing Aphrodite. Chevron plans to drill a well “in the coming months” on the field, the statement said, and is working on the development and production plan.
Chevron is finalising its development concept and considering ways to link up with other regional facilities in the wider East Mediterranean. The company plans to register its plan with the Ministry of Energy by the end of the year.
The two sides talked of Aphrodite’s role in helping European security of supply. Chevron and Cyprus, it said, are committed to expediting the timing of first gas to Egyptian and European markets.
Chevron’s Aphrodite is in Block 12. It drilled the discovery well in September 2011 and an appraisal in 2013. The field holds 98 billion cubic metres of contingent resources, according to partner NewMed Energy. It also has another 26 bcm of prospective resources.
The companies and government have discussed a number of plans on how to export gas from Aphrodite. The most likely options appear to be a pipeline to Egypt, home of two LNG export terminals, or to Israel.
Cyprus gave the partners on Block 12 an extension for drilling on the block in 2021. Under the terms of a new licence, the companies should have drilled the well by November 2021. They have been able to push this deadline back to November 2022.
Chevron has a 35% stake in the area, Shell has 35% and NewMed 30%.