Two significant agreements for the exploitation of energy fields were signed on Monday in Cairo by the Presidents of the Republic of Cyprus, Nikos Christodoulides, and of Egypt, Abdel Fattah al-Sisi.

More specifically, a Memorandum of Understanding was signed between the Republic of Cyprus, Egypt, and the licensee (Chevron Cyprus Limited, NewMed Energy LP, BG Cyprus Limited) for the development of the “Aphrodite” natural gas field. 

The Memorandum establishes the framework for the effective commercialisation of natural gas extracted from the field.

In addition, a Host Government Agreement was signed for the development of hydrocarbons in Block 6 of the EEZ of the Republic of Cyprus, defining the framework by which the licensed consortium (ΕΝΙ/TOTAL) and Egypt, as the host country, will collaborate on the commercialisation of the natural gas fields discovered within the block (Saturn, Zeus, Calypso).

The signing ceremony of the agreement and the memorandum took place on the sidelines of the international exhibition “EGYPES 2025”, with the participation of companies active in the Cypriot EEZ.

According to the Cypriot Presidency, the two agreements are milestones for the development of the deposits and a key step in the energy planning of the Republic of Cyprus, while also highlighting Cyprus’s strategic role in the hydrocarbon sector.

The significance of these agreements extends beyond merely promoting the exploitation of the deposits; it also broadens the prospects for energy cooperation with Egypt, contributes to regional stability, and enhances Cyprus’s geopolitical position in the Eastern Mediterranean.

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