An agreement has been reached between Cyprus and Chevron, according to confirmed information by “Insider.”
The information about the agreement between the government and the company was confirmed by the Minister of Energy, George Papanastasiou, who refrained from further comments.
According to “Insider” sources, Chevron has accepted the use of the Floating Production Unit (FPU) for the needs of exploiting the Aphrodite gas field, possibly extending its utilization to other fields in the Cypriot Exclusive Economic Zone (EEZ).
Chevron, the operator of Aphrodite, was in discussions with the Cypriot government after the rejection of the modified development plan for Aphrodite.
The timeline for resolving the dispute had been extended until December 1. The main cause of the dispute was the removal of the provision for the Floating Production Unit (FPU) above the field, with the company proposing a connection to the processing facilities in Egypt via a pipeline.