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Oil & Gas

Chevron seeks drilling vessel to ramp up East Med exploration – reports

Posted: April 19, 2023 at 3:58 pm   /   by   /   comments (0)

Energy major Chevron is looking for a drilling vessel to explore for more natural gas off Cyprus, Egypt, and Israel to help fulfill increasing demand for energy in Europe and the region, Reuters reports, citing two unnamed sources. The company reportedly issued a tender to lease the vessel starting in 2024.

Chevron is expanding in the region: The company is working to exploit Cyprus’ Aphrodite field with its partners Shell and Israel’s NewMed Energy, with plans to export much of that gas to Egypt for liquefaction. Chevron and Eni also announced a significant discovery in the eastern Mediterranean in January.The gas deposit has been said to hold 3.5 ton cubic feet of natural gas though we’re still waiting on the companies and the Oil Ministry to confirm its size.

(Source: Enterprise News)