Chevron and Egypt Rush to Finalize Aphrodite Gas Field Agreements

Chevron and the Ministry of Petroleum and Mineral Resources (MoPMR) are pushing to finalize agreements for connecting the Aphrodite gas field in Cyprus to Egyptian infrastructure. The project, which has a previously targeted September 2026 deadline for completion, aims to support progress toward a final investment decision.

Karim Badawi, Minister of Petroleum and Mineral Resources, discussed accelerating the agreement during a videoconference with Javier La Rosa, Chevron's President of Base Assets and Emerging Countries. The meeting also covered Chevron's plans to expand natural gas exploration in Egypt, particularly in the Western Mediterranean.

Badawi emphasized the need for finalizing technical, financial, and commercial frameworks, as well as related timelines. He highlighted high-level political support for gas cooperation between Egypt and Cyprus as a key momentum driver for completing the project's remaining tracks.