Cyprus has responded favorably to a request made by international energy companies, led by Chevron, for an extension in negotiations regarding a modified development plan for the Aphrodite offshore gas field, according to statements made by the country’s Energy Minister, George Papanastasiou, on Monday.
The discussions surrounding the future of the Aphrodite gas field, containing an estimated 99.12 trillion cubic meters (tcm) of natural gas reserves, located southeast of Cyprus, had reached a critical juncture. Cypriot authorities conveyed their response to Chevron’s request for an extension late on Sunday, just as the negotiations were set to expire.
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