The Cypriot government has granted the Aphrodite gas field operator, Chevron Corp, a new 7-day extension with a view to reaching an agreement over the reservoir’s development plan, NewMed Energy, a partner to the consortium has said.

In an update to the Tel Aviv Stock Exchange, NewMed Energy said that on 20 November 2023, Chevron Cyprus Limited, the operator in the Aphrodite Reservoir received a letter from the Minister of Energy of the Cypriot government according to which, the Partners were given a seven days extension, until 27 November 2023, to approve their consent to the Approved Plan.

“The operator intends to continue its efforts to reach agreements with representatives of the Cypriot government with respect to the reservoir’s development plan,” it added.

The initial development was submitted in 2019 by Noble Energy, the then gas field operator which has been acquired by Chevron. The new operator submitted a revised plan rejected by the Cypriot government at the end of August. The contract provided for 30 days of negotiation to resolve the dispute. Since then several extensions have been granted with a view to finding a “common ground” concerning the way forward, as Cypriot Energy Minster George Papanastasiou has said.