US Gas Experts to Discuss "Aphrodite" Field with Cypriot Energy Ministry

American natural gas experts are set to arrive in South Cyprus this week to conduct talks on behalf of Chevron, according to reports.

The Alithia newspaper reported that the rejection of the revised plan submitted by the consortium of American Chevron and Shell had created uncertainty regarding the development of the "Aphrodite" field.

In its article titled "Chevron Experts Are Coming to Cyprus - Everything Is Open for the Future of the Aphrodite Field Development Agreement," the newspaper reported that Chevron experts may arrive in South Cyprus later this week or possibly tomorrow to hold discussions with the Cypriot Energy Ministry on points of disagreement regarding the development of the "Aphrodite" field within South Cyprus' unilaterally declared "Exclusive Economic Zone."

The newspaper stated that the American Chevron company, the main axis of the consortium, had unilaterally revised its proposal, and the Cypriot Energy Ministry had rejected the changes.

It was reported that Chevron had reduced the proposed production drill from 5 to 3. Chevron had also decided not to place a floating facility at the location of the field to fully recover the reserve before piping it to the terminal of the consortium in Egypt, which created a problem for South Cyprus.

The newspaper noted that this proposal would significantly reduce the pumping and processing costs. The Energy Ministry assessed that there was a trap against South Cyprus' economic interests in this situation.

The article also pointed out that if the reserve goes directly to Egypt instead of a floating facility, it would substantially reduce the amount of natural gas available for South Cyprus to exploit.

Source: TAK