Cyprus to Develop Aphrodite Gas Field with Chevron, Shell, NewMed
Energy companies Chevron, Shell, and NewMed Energy have submitted a development plan for the Aphrodite gas field located in Cyprus' exclusive economic zone (EEZ).
The plan outlines the technical and commercial aspects of the project, including the construction of a subsea production system, a floating production unit, and an export pipeline to Egypt.
The Aphrodite field, discovered in 2011, is estimated to hold approximately 4.5 trillion cubic feet of natural gas and has the potential to significantly contribute to Cyprus' energy security and economic development.
The development plan, submitted to the Cyprus Ministry of Energy, Commerce, and Industry, is expected to undergo a review and approval process before the project can proceed.
Key Points:
- Chevron, Shell, and NewMed Energy have submitted a development plan for the Aphrodite gas field in Cyprus' EEZ.
- The plan includes the construction of subsea production and export infrastructure.
- The Aphrodite field has an estimated capacity of 4.5 trillion cubic feet of natural gas.
- The project aims to enhance Cyprus' energy security and economic growth.
Background:
Cyprus has been exploring its offshore natural gas reserves in recent years, and the Aphrodite field is considered a significant discovery.
The development of the Aphrodite field is expected to create jobs and boost investment in Cyprus.
Outlook:
The approval of the development plan is a crucial step towards unlocking the potential of the Aphrodite gas field and contributing to Cyprus' energy future.
The project is expected to attract further investment and partnerships in the country's energy sector.
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