Cyprus: A vote of confidence in Chevron’s presence in the Cypriot EEZ – Contacts in New York

Lefkosia is putting strict adherence to the timetable for the improvement of the Aphrodite tract successful the Cypriot EEZ astatine the apical of its agenda, pursuing a gathering successful New York betwixt President Christodoulides and the caller Chevron Chairman, Javier la Rosa. According to the Cypriot authorities spokesperson Konstantinos Letibiotis, the preliminary studies (prefit) volition beryllium completed by the extremity of 2025, portion the offshore geotechnical and geological surveys for the subsea installations and the pipeline way to Egypt volition commencement successful June. The caller statement successful Cairo is described arsenic a “milestone” that paves the mode for accelerated improvement of the field, with benefits for the Cypriot consumer.

Signal of confidence

President Christodoulides congratulated Mr. la Rosa connected his presumption of bureau and underlined that Chevron’s beingness successful the Cypriot EEZ is simply a beardown ballot of assurance successful the vigor prospects of Cyprus and the wider region. “I look guardant to our discussions connected what is outstanding truthful that we tin determination guardant quickly. For us, for the Republic of Cyprus, for the Cypriot people, clip is precise important,” helium said, calling for accelerated implementation of what has been agreed.

From the Nicosia side, it was stressed that the practice with Chevron remains adjacent and regular, some with the applicable Ministry of Energy and the President himself, with the purpose of ensuring the creaseless advancement of the project.

Timetable and method progress

Letybiotis said that “all schedules” acceptable for the Aphrodite deposit person been “met truthful far”. By the extremity of 2025, preliminary studies (prefit) are expected to beryllium completed, portion offshore geotechnical and geological surveys, indispensable for the subsea installations and the pipeline’s way to the Egyptian infrastructure, person been carried retired since June.

Milestone statement with Egypt

The caller statement signed successful Cairo is described by Nicosia arsenic “very important” and “landmark” arsenic it creates the conditions for the tract to beryllium developed arsenic soon arsenic possible. The cardinal nonsubjective is to exploit the earthy wealthiness of the Cypriot EEZ with tangible benefits for consumers successful Cyprus and with the imaginable of wider determination exploitation.

Chevron’s prolonged and “dynamic” beingness successful the Cypriot EEZ, the authorities spokesperson noted, sends a connection of stableness and assurance “in each directions”. The company, successful adjacent practice with the Republic of Cyprus, remains committed to the exploitation of “Aphrodite”, the archetypal earthy state tract discovered successful the Cypriot EEZ, which besides highlights the geopolitical value of the region. At the aforesaid time, Nicosia sees practice successful the vigor tract arsenic portion of its relations with the US, a strategical spouse with whom “we are moving unneurotic successful each areas”, the President said.

Future steps

It is envisaged that a adjacent and organization enactment of connection betwixt the Cyprus Presidency and Chevron volition beryllium maintained to show progress, with an accent connected gathering agreed milestones until the completion of studies and the indispensable method decisions connected the subsea facilities and the pipeline to Egypt.