Annual Reviews
Cyprus Oil & Gas 2024–2026

Comprehensive yearly summaries of Cyprus's oil and gas sector. Track progress, key events, and outlook for each year.

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2026
Current year

2026: From Discovery to Development

Egypt agreed to buy 100% of Aphrodite output, Block 10 was declared a commercial discovery, and the Aphrodite and Cronos FIDs are targeted before year end.

Aphrodite offtake deal Block 10 commercial declaration FIDs targeted in 2026
2025

2025 Year in Review

The Pegasus discovery lifted Block 10 to 8-9 Tcf, the Aphrodite development plan was approved and FEED began, and the Cronos export route to Egypt was signed.

Pegasus-1 discovery Aphrodite plan approved & FEED Cronos HGA signed
2024

2024 Year in Review

A year of commercial progress. Focus on development planning as Cyprus moved closer to first gas production.

FEED completion Egypt negotiations Concept studies

Previous Years

Historical reviews from earlier years are being compiled. Key past events are available in the main timeline.

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