Chevron Country Manager Basil Allam underscored Cyprus' strategic importance in the East Mediterranean energy landscape, emphasizing the Aphrodite gas field's progress toward a final investment decision. The project, positioned in Block 12 of Cyprus' exclusive economic zone, is advancing through the Front-End Engineering and Design (FEED) phase, marking a critical step in its development.

Allam pointed out that Aphrodite aligns with Chevron's commitment to providing reliable, affordable, and cleaner energy and praised Cyprus for its stable investment climate and productive collaboration with the government. The project's offshore floating production unit is planned to produce 800 million cubic feet of gas daily, transported via pipeline to meet Egypt's growing energy demands.

Chevron's expanding footprint in the Eastern Mediterranean, encompassing assets in Israel, Egypt, and exploration in neighboring countries, highlights the region's vast gas potential estimated at 44 trillion cubic feet. Allam emphasized that Cyprus' role is integral within Chevron's broader strategy, fostering long-term energy integration and value creation across the region.