KEY POINTS
- Chevron Cyprus country manager says Aphrodite gas field is steadily moving toward a final investment decision.
- The Aphrodite FEED phase covers a floating production unit, subsea infrastructure and an Egypt export pipeline.
- Egypt and Cyprus set a September 2026 deadline for finalizing main gas export agreements linked to Aphrodite.
Chevron has made its position clear. Cyprus is not a peripheral market. It is a central pillar of the company’s East Mediterranean energy strategy.
Chevron Cyprus country manager Basil Allam said the Aphrodite gas field in Block 12 of Cyprus’ exclusive economic zone is moving steadily toward a final investment decision. The comments, published in Parliament Magazine, confirm that the US energy giant sees Cyprus as a natural fit because of the region’s abundant gas resources and Aphrodite’s strategic significance.
“Like any country developing a modern energy sector, there have been moments when we needed to work through complex issues together, but more importantly, we have always found constructive ways forward,” Allam said. He described Cyprus as an attractive destination for foreign investors due to its stable environment and the government’s willingness to engage constructively with industry.
The Aphrodite field lies roughly 160 kilometers south of Limassol. The reservoir is one of the most significant offshore gas assets in the Eastern Mediterranean. Chevron operates the project alongside Shell, through its BG Cyprus subsidiary, and NewMed Energy.
What the FEED phase means for the project
Progress through the Front-End Engineering and Design phase is the critical step before a final investment decision. Chevron awarded the FEED contract to Worley Limited earlier this year. The scope covers a floating production unit, subsea infrastructure, a gas export pipeline and onshore gas receiving facilities in Cyprus.
Allam said the FEED phase represents disciplined development aligned with Chevron’s broader mission. He also described it as a shared ambition to strengthen regional integration and bring new gas supplies to market in a way that benefits both Cyprus and neighboring countries.
The Egypt export route and a September deadline
The pipeline from Aphrodite to Egypt has emerged as the most commercially significant element of the project’s export strategy. Egypt and Cyprus finalized a September 2026 deadline for concluding the main gas export agreements. Both parties have committed to accelerating the review of draft agreements to reach final versions within the coming months.
Egypt’s Minister of Petroleum, Karim Badawi, has described the Egypt link as a fast and reliable route for delivering East Mediterranean gas to global markets at competitive cost. Chevron’s involvement on both the Cyprus and Egyptian sides, the company also operates exploration blocks in Egypt, gives it a unique position to shape how that corridor develops.
