Aphrodite Exploitation License Issued

Nov 8, 2019

On the 7th November 2019, the Republic of Cyprus issued its first exploitation licence for hydrocarbons production from the Cypriot EEZ. The license is for the development of the Aphrodite Field, and has been issued to the consortium of Noble Energy (operator, 35%), Delek (30%) and Shell (35%). The license will have a duration of 25 years.

Simultaneously, the Field Development and Production Plan (FDPP) submitted by the Block 12 contractors was approved by the Ministry of Energy, Commerce and Industry. Under this plan, first gas from the Aphrodite field is expected in 2025.

The agreement comes at the conclusion of negotiations with the Block 12 Consortium on both the development plan and updates to the Block 12 Production Sharing Contract.