The partners involved in the Aphrodite offshore natural gas field have submitted a comprehensive development plan to the Cypriot government, with an estimated project cost of around $4 billion, according to Israel’s NewMed Energy. NewMed, along with its partners Chevron and Shell, has updated an earlier development and production plan to align with government directives.
The revised plan includes the construction of an independent floating production facility that will be positioned directly above the Aphrodite reservoir. This facility is expected to have a maximum production capacity of approximately 800 million cubic feet per day, initially utilizing four production wells. The processed natural gas will then be exported via a pipeline to the Egyptian transmission system.
The Aphrodite field, located in Block 12 about 170 km offshore from Limassol, Cyprus, holds an estimated 3.6 trillion cubic feet of gas. The development of this field has been the subject of extended negotiations, particularly since Chevron proposed amendments to a previously agreed 2019 field development plan. This earlier plan had been established between Cyprus and the original license holder, Noble, which Chevron acquired in 2020.
