The company added that it, in cooperation with its partners Chevron and Shell, updated a previous development and production plan to comply with government instructions.
“According to the updated plan, natural gas from the Aphrodite Basin will be produced and processed through the construction of an independent floating production facility that will be located above the basin,” she added.
NewMed Energy said the field’s maximum production capacity is estimated at 800 million cubic feet per day, initially through four production wells. It added that the natural gas will be exported via pipeline to the Egyptian transmission network.
The Aphrodite field contains an estimated 3.6 trillion cubic feet of gas and is located in Block 12, about 170 kilometers off the coast of Limassol in Cyprus.
There have been protracted talks over the development of the field southeast of Cyprus since Chevron tried to make changes to the field’s development plan in 2019. The plan was agreed between Cyprus and license holder Noble, an independent energy company that Chevron acquired in 2020.
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