Chevron Proceeds With Development Of Aphrodite Field

Chevron Proceeds With Development Of Aphrodite Field
Chevron will be developing the Aphrodite field offshore Cyprus with drilling due to begin in the first half of 2023.

U.S. supermajor Chevron will be developing the Aphrodite field offshore Cyprus with drilling due to begin in the first half of 2023.

NewMed Energy, a partner with a 30 percent stake in the project, said that the JV members approved a budget of $130 million to drill the A-3 well on the Aphrodite field. They will also provide another $62 million for a pre-front-end engineering and design (pre-FEED) study. Two giants – Chevron and Shell – each have a 35 percent stake in Block 12 where Aphrodite is located.

Chevron has already contracted the Stena Forth to drill the A-3 well. Drilling will start in the first half of next year.

The well will provide more information on the reservoir which, according to Chevron, holds 124 billion cubic meters of gas. Drilling of the well will focus on the Oligo-Miocene sand layers and act as a producer when the reservoir is developed.

“Alongside the intense activity to expand the production from the Leviathan reservoir, which provides for the needs of the domestic and regional markets, we are promoting the development of the Aphrodite reservoir, another large reservoir, to assist in supplying the increasing global demand for natural gas,” NewMed CEO Yossi Abu said.

Now, there are several options on how to produce from the Aphrodite field. Namely, they include integration with already existing facilities and cross-border ties into Egypt.

The Cyprus Ministry of Energy, Commerce, and Industry, in a joint statement with Chevron in July, said it would provide a development concept by the end of the year. Cyprus also previously mentioned an undersea pipeline from Aphrodite to Egypt’s Idku LNG plant. In addition to exports as LNG, some of the Aphrodite gas would also go to Egypt’s domestic needs.

Noble Energy drilled the original A-1 discovery well on Aphrodite in 2011, giving an estimated 5-8 trillion cubic feet of gas. It drilled the follow-up A-2 well in 2013. The Stena Forth recently drilled the Cronos discovery offshore Cyprus for Eni and TotalEnergies. The rig also drilled the Glaucus-2 appraisal for ExxonMobil off Cyprus. The rig is currently working offshore Egypt. Esgian has reported it is under contract with Chevron. It was due to be available from May 2023.

There are some political issues regarding the field though. Israeli Minister of Energy Karine Elharrar visited Cyprus on Monday to hold talks regarding the Aphrodite and Ishai fields with her opposite number Natasa Pileidou.

The reason for this is that Israel previously claimed that Aphrodite’s reservoirs run over the maritime border, into Ishai. A statement from Cyprus said the two were working to achieve a speedy resolution regarding the dispute. They have established working groups and set out a road map for negotiations.

Elharrar said it was in the best interests of both sides to work towards a swift settlement, citing the European energy crisis. “The trust between us and the continuation of our fruitful co-operation in the various fields is very important for both parties,” Elharrar claimed.

Pileidou said the two states had a vision of fully exploiting the East Mediterranean’s gas reserves and that they made progress in a mutually beneficial settlement of the issues regarding the two fields.

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