25.8 C
Nicosia
Tuesday, September 10, 2024
type here...
Economy

The renewed plan for the development of “Aphrodite” was submitted – The cost is 4 billion dollars

0
15

Must read

NewMed Energy's announcement – Government response awaited

Κατηκε ανεμο χια τνπτοο δηα δια κσο /></p> <p> File photo. </p> <p>The submission, for approval by the Cypriot Government, of an updated development plan for the “Aphrodite” field, which was prepared based on the approved development and production plan (2019), by the partners of the field (NewMed Energy, Chevron and Shell), announced on Sunday the NewMed Energy.</p> <p>According to the updated plan, as stated in a statement by NewMed Energy, “the production and processing of natural gas from the field will be carried out through the construction of an independent floating production unit, which will be placed above the 'Aphrodite' field with an estimated maximum production capacity of approximately 800 million cubic feet, per day, initially, through four production wells.” It is added that the natural gas will be exported through a pipeline to the Egyptian transmission system.</p> <p>Also, it is stated that according to the current estimate of the field manager, Chevron, and before the completion of the technical and economic studies including the realization of the Preliminary Design (FEED), the cost of the renewed development and production plan is estimated at approximately $4 billion (100%).</p> <p>According to the announcement, Yossi Abu, CEO of NewMed Energy stated that “we have renewed the plan development in accordance with the instructions of the Minister of Energy of Cyprus and we await the approval of the plan to allow rapid progress in the development of the field”.</p> <p>“The development of the field is another step in the regional partnerships that are developing around from natural gas in the Mediterranean basin”, he underlined.</p> <p><noindex></p> <div class=Source: www.kathimerini.com.cy

Previous article
Milan Trajkovic – Niki Stavrou: They pose with their one-month-old baby (Photo)
Next article
Say, say matsara… somersault on somersault the absolute Omonia!
- Advertisement -AliExpress WW

More articles

- Advertisement -AliExpress WW

Latest article

© 2024 Cyprus Digest. All rights reserved.

Popular in Cyprus

About Us

Popular Category

Editor Picks

MORE STORIES

“With the Greece-Cyprus-Israel interconnection we will export and import energy”