Cyprus, Chevron Press Ahead with Offshore Gas Field Development

Chevron and Cyprus are planning the drilling of a new well in the coming months as part of the continued development of the offshore Aphrodite gas field.

Reuters

Cyprus and Chevron said they were committed to expediting development of the offshore Aphrodite gas field to supply European markets and Egypt.

Natural gas in the field, lying southeast of Cyprus, was discovered in 2011. It is estimated to contain about 4.5 Tcm of gas, but it is untapped.

Russia's invasion of Ukraine and the ensuing disruption of energy supplies has left European countries scrambling to find alternative sources of natural gas.

There will be on-site drilling of a new well in the coming months within the framework of an already approved development and production plan, the Cyprus Ministry of Energy and Chevron Cyprus said in a joint statement issued on July 21.

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