Chevron issues revised plan for Aphrodite gas field offshore southern Cyprus

Chevron has submitted an updated plan of development and production for the Aphrodite offshore gas field to the government of Cyprus.

According to partner NewMed Energy, this will involve drilling an initial four new subsea wells that will be tied back to a floating production unit positioned over the field with a production capacity of about 800 MMcf/d.

The gas will be exported via a subsea pipeline to the Egyptian transmission system.

Prior to completion of technical-economic feasibility studies and the FEED, Chevron estimates the overall cost of this updated plan at about $4 billion.

Aphrodite is in 1,700 m water depth in Block 12, 160 km south of Limassol, and 30 km northwest of the partners’ producing Leviathan field in the Israeli sector.

Noble Energy discovered the field with the A-1 well in September 2011. The estimated contingent resource is about 98 Bcm, with potentially 26 Bcm of additional prospective resources.