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StocksMedium•16 March 2026•

1 min read

Chevron Awards FEED Contract to Worley for Cyprus Aphrodite Gas Field

Offshore oil rig with ships, oil barrels, and drilling equipment. Logos for ExxonMobil and Energean, map of Greece, and financial charts.

Key Facts

1Chevron awarded the Front-End Engineering Design (FEED) contract to Worley for the Aphrodite gas field development.

2The contract marks a significant step toward unlocking gas resources in the Eastern Mediterranean region.

Chevron has advanced the development of the offshore Aphrodite gas field in Cyprus by awarding a critical Front-End Engineering Design (FEED) contract to Worley. This contract marks a significant milestone toward unlocking substantial natural gas resources in the Eastern Mediterranean region. The move is part of Chevron's broader strategy to expand its regional energy footprint and enhance long-term production capabilities. By progressing this major capital project, Chevron aims to commercialize offshore reserves in collaboration with the Cypriot government. The development is viewed as a positive signal for the company's growth outlook and its commitment to global energy security. For Worley, the contract underscores its role as a key service provider in large-scale international energy infrastructure projects.