Two rounds of talks have already taken place since Nicosia on 28 August officially informed Chevron (35%op) and its partners Shell (35%) and Israel’s NewMed (30%) that it was rejecting the firms’ “modifications”, filed in May, to a field development plan (FDP) agreed in 2019 (MEES, 25 August).

This comes as NewMed on 5 September released an updated reserves report in the light of June’s A3 appraisal well. This indicates a best guess recoverable resource of 3.62tcf, well down on the previous 4.39tcf figure. (CONTINUED - 885 WORDS)