Cyprus has taken a significant step towards bolstering its role in the regional energy sector with the approval of a revised development and production plan for the Aphrodite gas field. The project will advance through facilities in Egypt, marking a crucial milestone for the island’s energy ambitions, Energy Minister George Papanastasiou announced.

In a joint statement, the Cypriot ministry of energy, alongside Chevron Cyprus Limited (CCL) and its partners, Shell and NewMed, confirmed that amendments to the initial development and production plan (DPP) had been officially sanctioned. The gas field, located in Block 12 of Cyprus’ exclusive economic zone (EEZ), is now set for accelerated development.

“The Republic of Cyprus has today approved the development and production plan for the Aphrodite gas field, submitted by the consortium comprising Chevron Cyprus Limited, BG Cyprus Limited (Shell), and NewMed Energy LP,” Minister Papanastasiou stated.

He emphasised that the rapid progression of the project through Egyptian infrastructure is a tangible step towards establishing Cyprus as a key player in the Eastern Mediterranean energy market. 

“This development will benefit both the nation and its people,” he added, assuring that Cyprus will closely monitor Chevron and its partners to ensure compliance with the agreed terms.

Chevron’s Vice President for International Exploration and Production, Frank Cassulo, welcomed the decision. 

“We appreciate this significant step forward and the productive discussions with the Cypriot government,” he said. 

“We value our collaboration with the Republic of Cyprus and believe the development of Aphrodite will benefit both Cyprus and the broader Eastern Mediterranean. This aligns with our strategy to deliver affordable, reliable, and increasingly cleaner energy.”

The approved plan includes a floating production unit (FPU) within Cyprus’ EEZ and a pipeline to transport natural gas to Egypt. These modifications aim to advance technical and engineering studies under the front-end engineering and design (FEED) phase, paving the way for a final investment decision (FID) on the project.

The approval represents a major step forward in Cyprus’ energy strategy, reinforcing its commitment to regional cooperation while tapping into valuable offshore resources. The government and its partners now look towards implementing the plan efficiently to ensure economic and strategic gains for the island nation.