As a 31 March deadline looms, working teams from Cyprus’ energy ministry on 28 March met in Nicosia with the partners of the country’s 3.5tcf Aphrodite field (Chevron 35%op, Shell 35%, Israel’s NewMed 30%).
Nicosia in December set the firms a 31 March deadline to come up with “improvements” to a revised development plan filed by Chevron and its partners in May last year (MEES, 2 June 2023). Cyprus rejected the revisions, which would substantially cut costs but also mean lower output and state revenue (see table) and says that the development plan originally agreed with then-operator Noble Energy in 2019 (MEES, 8 November 2019) remains valid. (CONTINUED - 712 WORDS)
