Chevron, Shell, and NewMed Energy have sanctioned pre-construction works for the Aphrodite natural gas field offshore Cyprus, initiating FEED with an investment of approximately $105.7 million. The project includes plans for four initial production wells and a floating production unit with a capacity of 800 million cubic feet per day, aimed at exporting gas to Egypt. The consortium is also negotiating with the Cypriot and Egyptian governments regarding export arrangements.
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