East Mediterranean

Cyprus

Cyprus is strategically located at the heart of the East Mediterranean. Four undeveloped gas discoveries in the country's offshore could prove to be a game-changer not only for Cyprus but for the region if major IOCs eventually decide to proceed with development.

State of Play

The presence of oil majors Chevron, TotalEnergies, Shell, ExxonMobil and Eni and five to-date gas discoveries have yet to yield any gas production for Cyprus. The country's plans to import LNG via a custom converted FSRU have suffered constant delays.

Gas Field Discoveries To Date

NAME/OPERATOR	SIZE	DATE
Aphrodite/Chevron	3.2tcf	2011
Calypso/Eni	1-2tcf	2018
Glaucus/Exxon	3tcf	2019
Cronos/Eni	2.5tcf	2022

Corporate

25 Aug, 2023

Featured

Cyprus Rejects Chevron’s Modified Aphrodite Development Plan

Nicosia has rejected Chevron’s modified development plan for the Aphrodite field. It says Chevron’s ‘capital efficient’ plans will mean lower state revenue.