Chevron, Cyprus agree to extend talks over Aphrodite gas project [Seeking Alpha]
Chevron Corporation (CVX)
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Source: Seeking Alpha
Chevron's ( CVX ) VP of International E&P and Cyprus Energy Minister Giorgos Papanastasiou held constructive meetings this week regarding the Aphrodite project, according to a joint statement from the two parties. Cyprus reportedly had accused the company of breaching its production-sharing contract on the 3.5T cf gas field, shortly after Chevron ( CVX ) and its development partners submitted a new $4B development plan for the field. The plan calls for four production wells connected to a floating production unit in Cypriot waters with nominal production capacity of 800M cf/day, with gas to be exported to Egypt through a subsea pipeline. Chevron ( CVX ) is operator of Aphrodite and holds a 35% stake, while partners Shell ( SHEL ) and NewMed Energy ( OTCPK:DKDRF ) own respective 35% and 30% stakes. Recommended For You More Trending News Recommended For You More Trending News About CVX Stock Related Stocks Trending Analysis Trending News
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CVX
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- 8/2/24 - Miss
CVX
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- 9/4/24 - Form 4
- 9/4/24 - Form 4
- 9/4/24 - Form 4
- CVX's page on the SEC website