Cyprus Accelerates Aphrodite Field Development

The consortium licensed for the development of Cyprus’s Aphrodite gas field will update the development and production plan by March 31st, as Cypriot Minister of Energy, Commerce and Industry, George Papanastasiou, revealed, according to ekathimerini.

The minister explained that a floating production unit (FPU) above the field would be a significant plan of the new agreement.

Papanastasiou notes came before the Parliamentary Committee on Energy. The minister stated that recent discussions resulted into an arrangement with the consortium.

“At this moment, the discussion revolves around the necessity of the floating production unit (FPU) and considering the significant changes in the Eastern Mediterranean energy landscape since 2019, both geopolitically and in terms of energy, we thought it might be appropriate to accept an update of the specific plan,” Papanastasiou said.

The minister explained that the term “update” means the plan will be more functional within the current energy environment of the Eastern Mediterranean and the Cypriot exclusive economic zone.

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