Corporate unit Chevron Cyprus Ltd. operates the field, which holds an estimated 3.5 trillion to 4 trillion cu ft of natural gas plus condensate following its 2011 discovery by Noble Energy, now a unit of the U.S. parent.

In awarding the FEED contract, Chevron, which has a 35% share of the development along with Shell's equal share and Israel-based NewMed Energy with 30%, have signaled an intention to proceed to the next-phase. The front-end work is set to finish In December and a project final investment decision is planned for January 2027. 

“We are happy that Chevron has finally decided to proceed with the development of the Aphrodite field,” a source in the Cyprus energy ministry told ENR. 

Governments of Cyprus and Egypt have signed preliminary agreements for gas supply, with a subsea pipeline aimed to feed most of the volume into the Egyptian grid and the balance processed into LNG for re-export.

In a statement, Worley said its work will cover "the full Aphrodite field development, including a portion of the subsea systems, floating production unit, export gas pipeline and onshore receiving facilities,” as well as equipment procurement.

The award appears to progress a project favored by Cyprus since the field discovery to supply gas for its own power generation, for Egypt and for the European market. The country is a European Union member. Development investment has faced obstacles that include Aphrodite’s distance from the Cyprus shore, the subsea pipeline cost to that country and the island’s small gas market.

Chevron bought Noble Energy in 2020 for $5 billion, with development plans for Aphrodite only now realized. Noble also had discovered and was a developer of the Tamar and Leviathan gas fields offshore of Israel, with an estimated 900 billion cu meters of gas reserves combined and production underway since 2013 to supply the Israel domestic market, and exports to Jordan and Egypt.

But earlier this month, in the wake of the Israel-U.S.-Iran War, Chevron declared force majeure at the Leviathan field after the government ordered a temporary suspension of production on security grounds. Reuters said Feb. 28 that the country’s energy needs would be met through alternative sources.

The shutdown comes just weeks after Chevron announced in January a final investment decision for an estimated $2.36 billion Leviathan expansion, with production set to increase to 21 billion cu m per year by 2030 from 12 bcm now. Tamar produces about 10 bcm currently.

Chevron said at the time, that the plan "reflects our confidence in the future of energy in the region." 

Cyprus Supply Chain Develops

Meanwhile, two groups have submitted bids to supply the Cyprus floating production unit—Singapore-based Seatrium (formed by the merger of Sembcorp Marine and Keppel Offshore & Marine), and a South Korean group comprised of Hanwha Ocean, Hyundai Heavy Industries and Samsung Heavy Industries. Subsea7 and Stena Drilling are competing for subsea construction and pipeline installation contracts.  

Whether current schedules hold is unclear, but construction work is set to begin in 2027 and finish in 2031 with first gas production in 2032.

“Worley got the contract, but there is a long way before FID,” Charles Ellinas, an expert on East Mediterranean oil, gas and geopolitics as CEO of EC Cyprus Natural Hydrocarbons Company Ltd. and a former managing director at Mott MacDonald told ENR. "Whatever happens, Chevron will not move to the next step until project returns satisfy its targets. So, I expect delays.”