The Aphrodite gas field development consortium has released updated project schedule confirming first gas production target of Q2 2027. The offshore field, located 160 km southwest of Cyprus, contains estimated reserves of 340 billion cubic meters of natural gas.
Development Strategy
The consortium, led by Eni and Total Energies, will utilize a subsea production system with export pipeline to the mainland LNG terminal. Total project investment is estimated at €3.6 billion, including subsea infrastructure, processing systems, and export pipelines.
Production will reach approximately 200,000 barrels of oil equivalent per day at peak capacity, supporting exports to international markets and ensuring long-term energy security for Cyprus.
Economic Benefits
Gas production from Aphrodite will generate government revenues exceeding €2 billion over the field's 20-year production life. The project creates 2,500 direct jobs and 4,000 indirect jobs in Cyprus and the broader region.
