Chevron targets year-end for delivery of development concept for Cyprus gas field

Oil major Chevron plans to deliver an optimised development concept for the Aphrodite gas field located offshore Cyprus to the country’s authorities by the end of the year and expedite the first gas timing.

Discovered in 2011, the field was operated by Noble Energy until Chevron acquired the company back in 2020. Before it was acquired by Chevron, Noble was granted an exploitation license and the approval of the development and production plan for the Aphrodite offshore gas field. The first gas was expected to start flowing in 2025. This was in November 2019.

The development plan envisioned the deployment of a newbuild floating production facility at the Aphrodite reservoir, with an estimated maximum production capacity of approx. 800 MMCF per day, through 5 production wells at the initial stage, and export of natural gas to the Egyptian market.

Now, the Ministry of Energy, Commerce and Industry of Cyprus and Chevron have affirmed their mutually beneficial cooperation in viably and efficiently developing the Aphrodite field, in Cyprus’ Exclusive Economic Zone (EEZ).

In this regard, the Minister of Energy, Natasa Pilides, and the President of Chevron Middle East, Africa, South America Exploration and Production Company, Clay Neff, met on Thursday with the President of the House of Representatives, Annita Demetriou, to update her on the development works for the Aphrodite. According to the ministry, these will include the on-site drilling of a new well in the coming months, in the overall framework of the field’s approved Development and Production Plan.

Chevron is also in the process of finalising the optimisation of the Aphrodite field’s development concept, through possible synergies with other facilities in the region, thereby recognising the importance of Eastern Mediterranean gas resources. The development concept will be presented to the Minister of Energy for approval by the end of the year.

The ministry pointed out that, taking into account the prevailing energy environment and the potential for Cyprus and the wider Eastern Mediterranean to significantly contribute to Europe’s security of supply and diversification of sources, both parties remain committed to continuing working together in order to expedite the timing of the first gas from Aphrodite to Egypt and to European markets.

In recent Cyprus-related news, ExxonMobil in March 2022 completed drilling operations on its Glaucus-2 appraisal well located in Block 10, confirming the presence of high-quality gas. The well was drilled using a Stena Drilling-owned drillship.

Furthermore, Italy’s Eni and its partner France’s TotalEnergies last May also started drilling an exploration well off Cyprus, using a Vantage Drilling-owned drillship. Drilling operations were expected to take around 60 days.