Press Releases

The Minister of Energy, Commerce and Industry of the Republic of Cyprus, Mr George Papanastasiou, and Chevron Vice President of International E&P, Mr Frank Cassulo, held constructive meetings this week in Lefkosia regarding the Aphrodite project. 

“I am pleased to announce that the Republic of Cyprus and Chevron have agreed to hold discussions over the next four months, in order to seek an amicable solution that ensures the development of the Aphrodite Field without further delays,” stated Mr Papanastasiou. “Our government is focused on advancing projects that benefit the country while the rights of the Republic remain of primary importance.” 

“We appreciate the productive engagements with the Cyprus government and look forward to advancing the development of the Aphrodite Field,” said Chevron’s Mr Cassulo. “This agreement reflects our belief that it takes all stakeholders to align around a common goal and path forward for a complex energy project such as Aphrodite to succeed.” 

Chevron Cyprus Limited holds a 35% operator interest in Aphrodite with partners BG Cyprus Limited (Shell) 35% and NewMed Energy 30%. 

(GA/AP/AS)