- The group met the Cypriot energy minister on Monday to discuss progress.”The updated schedule is expected to accelerate and reduce the development cost.
- Earlier this month, the group said it had begun drilling an exploration well meant to confirm the estimates.
The offshore Aphrodite natural gas field being developed in Cypriot waters will be connected to an existing processing and production facility in Egypt via a subsea pipeline, one of the partners in the project said on Wednesday.
With partners Chevron and Shell, NewMed Energy said it had submitted a development plan for Cypriot government approval. The group met the Cypriot energy minister on Monday to discuss progress.”The updated schedule is expected to accelerate and reduce the development cost,” NewMed said.
Aphrodite, discovered more than a decade ago about 170 km (105 miles) from Limassol, holds an estimated 124 billion cubic metres of gas. NewMed has a 30% stake in the field, while Chevron and Shell hold a 35% share.
Earlier this month, the group said it had begun drilling an exploration well meant to confirm the estimates. It would later be used for production. Chevron said it was “currently working to progress the Aphrodite project.”