Cyprus signs deal for offshore gas concession
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Cyprus and the Aphrodite consortium on Thursday signed an exploitation license and a revised production sharing contract, aiming to start natural gas production in 2025, generating projected revenues of $9.3 billion for a period of eighteen years. The 25-year exploitation licence is the first of its kind signed with Cypriot EEZ licensees and its based on the final development and production plan of Aphrodite agreed between the Cypriot authorities and the consortium of Noble Energy, Shell and Delek Drilling. On the basis of the plan, the natural gas from...
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