Press Releases

The President of the Republic of Cyprus met with Chevron CEO, Mr Mike Wirth, and the President of International Exploration and Production, Mr Clay Neff, on Monday morning, 7 April 2025.

During the meeting, energy developments in the Eastern Mediterranean were discussed, focusing on the development of the “Aphrodite” field and its strategic importance for the Republic of Cyprus. 

The conclusion of an agreement between the Republic of Cyprus and Chevron for the exploitation of the “Aphrodite” field, as well as the signing of an agreement with Egypt for the commercial development of the field's natural gas last February are of strategic importance to our country.

President Christodoulides was informed about the commencement of seabed survey in early summer, on the basis of the relevant timetable that has been set, for the placement of a pipeline between “Aphrodite” and the landing point in Egypt.  At the same time, during the meeting, the procedures that Chevron is progressing were discussed, following the approval by the Republic of Cyprus of the Development and Production Plan for the implementation of the agreed terms and for the Host Government Agreement that will be concluded with Egypt, following the signing of the relevant Memorandum of Understanding (MoU) last February. 

President Christodoulides stressed the importance of the timely and effective implementation of energy plans, on the basis of the Development and Production Plan. At the same time, he pointed out that the development and exploitation of the “Aphrodite” field is a priority for the Republic of Cyprus, and underlined that the effective implementation of the plan is crucial both for the country's energy plans and for the strengthening of the energy security of the region, as it highlights the importance of our country as a new source of supply for the needs of neighbouring countries, but also for the European Union.

Chevron's presence in the Cypriot Exclusive Economic Zone (EEZ) and in the region, as it is the only company operating in Cyprus, Israel, Egypt and Greece, the President of the Republic noted, adds momentum to the efforts for the exploitation of hydrocarbons in the region, rendering the company a key factor in ensuring energy security at the regional level through the development of synergies. Its extensive know-how and international experience in the management of marine hydrocarbon deposits create added value and transfer technological innovation, benefiting Cyprus and the wider region.

Chevron representatives reiterated their willingness to work closely with the Republic of Cyprus and expressed their intention to contribute to the implementation of the country's energy strategy objectives, noting that “Aphrodite” is an important part of the company's portfolio of activities in the Eastern Mediterranean, a region that is part of Chevron's future plans and priorities.

The meeting took place at Chevron's headquarters in Houston, Texas, where President Christodoulides had an opportunity to tour the company's infrastructure, which is designed to accommodate and support large-scale operations and specialised research programmes.

The President of the Republic of Cyprus was accompanied at the meeting by the Minister of Energy, Commerce and Industry of the Republic of Cyprus, Mr George Papanastasiou, the Government Spokesman of the Republic of Cyprus, Mr Konstantinos Letymbiotis, the Deputy Minister to the President of the Republic of Cyprus, Ms Irene Piki, and government officials.

(TG/IA/MS)