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Min. Energy: The difficulty in the development plan for “Aphrodite” has been overcome

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Υπ. ΕνΕργειασ : Ξεπεραστηκε η δυσκολΙα στο πλαν&omicron

The point that created some difficulty in the development plan for the “Aphrodite” field has been overcome, said the Minister of Energy, Trade and Industry, Giorgos Papanastasiou, announcing at the same time that for “Saturn I” and “Saturn II” the CEO is coming to Cyprus at the end of April of ΕΙ “and we believe that we will hear what the company intends to do”. regarding the development plan for “Aphrodite”, Mr. Papanastasiou said that “the point that created some issue has been overcome and there is a direction based on the agreed development and production plan for 2019”.

“So let's give some time and when we are at some stage that will give a specific direction, then we will give more information publicly”, he said.

Asked if there is a timeline for a response to Chevron on the optimized proposal to move the effort forward, Mr. Papanastasiou said we want to respond as soon as possible to begin planning for the Chevron-managed joint venture “so that it can give us a direction and some timetable for exploitation of the field”.

“We have sent to our advisers abroad what the company proposes, also to our legal advisers, and in the next few days we will respond”, he said.

When asked if they are satisfied with the provisions of the optimization proposal, the Minister replied that we have already exhausted the discussion on this matter with the consortium and he (the company) understands that it will be at the basis of the development and production plan of the field as it was signed 2019, “so the optimization basically gives the consortium an opportunity to give a different direction, but on that basis of the plan”.

In remarking that he had previously spoken about synergy and if it still exists, he replied that he would prefer not to go into details “for the reason that we have judged in the Ministry that public statements should be avoided because they cause difficulties along the way and the course is concrete.”

“The natural gas from the particular field should come out on the international markets, and we should focus on the substance instead of public statements in this stage,” he said.

In another observation that it is about plot 12 where there is also a dispute with Israel and when asked if this dispute makes the effort difficult, the Minister of Energy said that the position of the Government is that there is no difficulty connected with the small field that is connected with “Venus”, but it is in Israel's EEZ.

However, he said, in his recent visit to Israel, he concluded with the country's Minister of Energy and Infrastructure that this difference should be closed in the next three months.

“And because on a commercial level it cannot be closed, the companies have been given the opportunity here and there to provide the solution and at the moment the decision that has been made is that we will proceed with a settlement between the two states, so that it is indicated to the companies that this will is the solution”, said the Minister.

For the “Saturn I” and “Saturn II” fields, the Minister said that the President of the Republic has been informed by the CEO of ENI that he requested a visit around the end of April “and there we believe we will hear what the company intends to do, in terms of a development and production plan”.

Sponsorship plan for circular economy

In the meantime, Mr. Papanastasiou announced that the Ministry approved the sponsorship plan for circular economy for SMEs that is included in the Recovery and Resilience Plan of Cyprus for the period 2021-2028 and will be financed by the EU's Recovery and Resilience Mechanism.

He said that the total amount of funding is 14, 4 million euros and each business can raise 400,000 euros.

Regards recycling, e.g. recovery of materials from waste for use in new products, changing the use of products, remanufacturing , product repair , repairing and maintaining a product or parts thereof, reusing a product, increasing efficiency and rethinking how products are used, and removing or replacing a product's usefulness with another type of product.

SOURCE:< strong>KYPE

Source: 24h.com.cy

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