Chevron details development status of Cyprus Aphrodite gas field

Basil Allam, Director of Chevron Cyprus, announced that the Aphrodite gas field in Block 12 of the Cyprus Exclusive Economic Zone has entered the Front-End Engineering and Design (FEED) phase. This stage serves as a critical prerequisite for reaching a Final Investment Decision (FID). Chevron aims to utilize a floating production unit to extract 800 million cubic feet of natural gas per day. The extracted gas is intended for export via pipeline to Egypt to address growing market demand. Allam stated that the project is part of a broader regional portfolio containing approximately 44 trillion cubic feet (1.25 trillion cubic meters) of gas. He further described the Cypriot business environment as stable and conducive to investment, highlighting positive collaboration with the local government. The company integrates the Aphrodite field into its regional resource strategy rather than viewing it as a standalone asset.