Discovery & Development
Chevron has asked the Cypriot government for an extension to complete the FEED study for its Aphrodite natural gas project in Cyprus. The two have a PSC that was agreed to in 2019. Under the terms spelled out in the PSC, the FEED study was supposed to kick off on November 7, but Chevron asked for a four-month extension for the negotiating period for modifying the offshore gasfield development and production plan, concurrent with its requested four-month extension that it requested for starting the FEED. Cyprus pushed back and proposed a two-month delay instead. The Aphrodite reservoir is thought to hold an estimated 4.5 tcf of recoverable gas. Chevron is operator with a 35% stake, with Israel-based NewMed Energy holding 30%.
A proposed Rhode Island wind farm known as Revolution Wind just received approval from the Fed Permitting Improvement Steering Council this week. Revolution Wind is run by Orsted and Eversource and is designed to provide 704MW of energy to Connecticut and Rhode Island. The second stage of the project known as Revolution Wind 2 was canceled back in March when the Rhode Island utility turned down Orsted’s proposal on grounds that it would cost consumers too much.
Shell’s Integrated Gas & Upstream Director said the company has an “imminent” $5B investment opportunity in the Bonga North oil project in Nigeria and that she is eager to make an investment “as soon as possible.”…