Cyprus Energy Minister George Papanastasiou on 25 August dispatched a letter to US major Chevron, operator of the 4.5tcf Aphrodite field, setting out Cyprus’ reasons for rejecting Chevron’s May 2023 revisions to 2019’s approved field development plan (MEES, 2 June).
Whilst the official position of Cyprus is that the 2019 FDP remains valid, in reality Mr Papanastasiou accepts that a negotiated compromise will form the most likely positive outcome. Chevron (35%op) and its partners Shell (35%) and Israel’s NewMed (30%) have a 30-day “grace period” to respond once the letter is officially received by Chevron. (CONTINUED - 1841 WORDS)
