News Local Chevron takeover of Noble Energy could affect 'Aphrodite' discovery

Chevron takeover of Noble Energy could affect ‘Aphrodite’ discovery

The acquisition of US Noble Energy company by Chevron is a development that may affect the ‘Aphrodite’ deposit discovery offshore Cyprus, the Ministry of Energy has said.

Minister Natasa Pilides will have, in the next few days, teleconferences with the heads of both Chevron and Noble Energy in order to get fully informed on the agreement reached between them, a written announcement also said.

And developments in ‘Aphrodite’ gas field will be carefully evaluated by the Ministry, it added.

Analysts say that Chevron’s strategy is based on maintaining dividend growth.

And that further investment in its core portfolio, which now includes Cyprus, is to be expected, despite the sharply lower gas prices that have taken the bottom out of the market today.

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