Updated resource estimates for the Chevron-operated Aphrodite gas field offshore Cyprus show a modest 4% increase in the best-case contingent (2C) volumes to 3.7tcf and a reclassification of part of the resource base. The revision reflects progress on the project’s development concept, junior partner NewMed Energy said in a statement on 9 March.

According to the latest resource assessment, contingent gas resources at Aphrodite have increased by around 5% in the low estimate (1C), 4% in the best estimate (2C) and 4% in the high estimate (3C) compared with the previous evaluation released in September 2023 (MEES, 8 September 2023). The upgrade follows updated geological analysis and technical work carried out during the pre-front-end engineering design (pre-FEED) phase, NewMed said. (CONTINUED - 995 WORDS)

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