Cyprus and Chevron have given each other until January to reach agreement on how to develop the Mediterranean island’s first gas discovery. Chevron operates the 3.5tcf Aphrodite field with a 35% stake (Shell 35%, Israel’s NewMed 30%).
In an 18 September joint statement, Cyprus energy minister George Papanastasiou says the two sides “have agreed to hold discussions over the next four months in order to seek an amicable solution that ensures the development of the Aphrodite field without further delays.” (CONTINUED - 456 WORDS)
