Cyprus Grants Seven-Day Extension to Chevron to Reach Agreement over Aphrodite Development Plan

The Cypriot government granted Chevron Corporation, Aphrodite gas field operator, a seven-day extension to reach an agreement for the field’s development plan, according to a statement by a partner in the consortium NewMed Energy reported in ekathimerini.
Chevron Cyprus Limited has received a letter from the Giorgos Papanastasiou, Cypriot Minister of Energy, which grants the partners an extension until November 27, in order to finalize their assent to the approved plan.
“The operator intends to continue its efforts to reach agreements with representatives of the Cypriot government with respect to the field’s development plan,” NewMed stated.
The initial development for the Aphrodite field was submitted in 2019 by Noble Energy Company, the gas field operator back then before Chevron’s acquisition. The new operator, Chevron, has submitted a revised plan that was rejected by the government at the end of August.
According to the contract, the parties have 30 days to negotiate and resolve the dispute. Since then, a number of extensions have been granted, aiming to reach common ground concerning, as Papanastasiou has said.