Chevron Corp, currently overseeing the "Aphrodite" gas field, has received an additional extension from the Cypriot government. The new deadline is set for December 1 to respond to discussions about the field's development plan, according to Energy Minister George Papanastasiou in a statement to CNA.

Minister Papanastasiou mentioned that extensive deliberations have occurred, and more are ongoing, aiming to reach a mutually beneficial agreement.

In response to a query, the Minister expressed optimism about achieving a favorable resolution.

He highlighted that for the Republic of Cyprus, infrastructure is the key concern, while for Chevron, the focus is on the scale of investment. He added that Chevron is actively seeking a win-win situation.

However, Papanastasiou chose not to provide details on the ongoing discussions, citing potential risks to the sensitive negotiation process.

This development follows the initial plan submitted in 2019 by Noble Energy, the previous operator of the gas field, now part of Chevron. The new operator presented a modified plan, which the Cypriot government rejected in late August. The original contract allowed for a 30-day negotiation period to address any disagreements. Since then, multiple extensions have been granted.