Recent weeks have seen a series of ‘deadlines’ imposed by Nicosia for operator Chevron (35%) and partners Shell (35%) and Israel’s NewMed Energy (30%) to agree to push forward with FEED at Cyprus’ 3.5tcf Aphrodite field in line with a field development plan (FDP) agreed in 2019.
Having rejected Chevron’s proposed revisions to the 2019 plan in August (MEES, 25 August), Nicosia subsequently set a series of deadlines for Chevron to agree to move ahead with the 2019 plan. An initial 28 September deadline was pushed back to 5 November (MEES, 3 November). This in turn was just two days before the partners were obliged to launch FEED as per the 2019 plan. But this deadline also came and went with further extensions to 20 November and then 1 December. (CONTINUED - 1084 WORDS)
