The Republic of Cyprus and Chevron have agreed to start discussions at some point in the next four months to reach an agreement over the development of the Aphrodite gas field without further delays, Energy Minister George Papanasthasiou said on Wednesday.

Papanastasiou and Chevron’s vice president for international exploration and production Frank Cassulo held meetings this week in Nicosia regarding the Aphrodite field.

Papanastasiou added that the government remains focused on promoting projects beneficial to the country, while upholding the rights of the Republic.

“We value our productive engagements with the government of Cyprus and look forward to advancing the development of the Aphrodite field,” Cassulo said.

He added that the agreement “reflects our belief that it is essential for all parties involved to align around a common goal and path to succeed in a complex energy project like Aphrodite”.

Chevron Cyprus Limited holds a 35 per cent stake in the Aphrodite field and is the operator, with partners BG Cyprus Limited (Shell) holding 35 per cent and NewMed Energy 30 per cent.