US oil major Chevron to launch appraisal drilling at Aphrodite deposit
15:01 - 26 April 2023
US oil major Chevron is preparing to launch a second appraisal drilling at the Aphrodite deposit in block 12 of Cyprus’ Exclusive Economic Zone (EEZ), Energy Minister George Papanastasiou has told state radio.
He said that the company’s floating drilling rig was en route to Cyprus to confirm the estimated quantities of natural gas in Aphrodite.
Papanastasiou also revealed that Italian oil giant Eni was planning to conduct an appraisal drilling at the Calypso deposit (block 6) towards the end of the year or early 2024, after completing its appraisal drillings in the Zeus and Cronos deposits.
He said that once the quantities are confirmed, the companies are expected to provide plans for exploitation and the state will expect strict adherence to time schedules.
News Feed
13 hours ago Companies
New Bean Bar opens in Zakaki13 hours, 37 minutes ago Companies
Freedom Holding Corp. reports 23% revenue growth for FY2025, driven by strong performance across brokerage and insurance segments13 hours, 47 minutes ago Economy
High Commissioner Manish: PM's visit reaffirms India's strategic vision for deepened engagement with Cyprus14 hours, 23 minutes ago Companies
Never stop growing: Lidl at UEFA Women’s EURO 202515 hours, 21 minutes ago Economy
Kostas Koumis: The UAE market is promising and important for Cyprus tourism - The benefits of Investopia16 hours, 8 minutes ago Economy
Tourist arrivals record annual increase of 13.7% in May 202516 hours, 59 minutes ago Economy
Viraj Kulkarni: I visualise at least six to eight times growth in the value of trade between Cyprus and India in the next few years