oils and gas
During the meeting, Chevron’s leadership outlined several key issues, including the status of the Aphrodite gas field project in Cyprus and plans to connect it to Egypt’s infrastructure for gas processing and transportation.
In a statement, the company noted that this milestone coincides with increased output from the RW4 well, bringing the combined production from both new wells to around 140 million cubic feet per day since the start of this year.
Begonia-2 is the first well drilled under the company’s $100 million investment initiative in Egypt, launched to develop 11 wells over the next two years.
Before deployment, the ship—originally an LNG carrier with a daily capacity of one billion cubic feet—will be converted into a regasification unit.
This effort is part of the country’s broader strategy to accelerate exploration activities, boost oil and gas production, and solidify Egypt’s role as a key player in the global energy market.
The project is expected to unlock approximately 80 billion cubic feet of gas, significantly enhancing the company’s production in Egypt.
This production increase aligns with the government’s commitment to settle arrears owed to foreign oil companies before the fiscal year ends, encouraging these companies to ramp up drilling activities and accelerate the development of gas fields.
