The Cypriot government has agreed revised contractual terms with stakeholders involved in the Aphrodite gas fi eld, which could speed up a fi nal investment decision (FID) on the project. The changes to the arrangement include a new profi t-sharing mechanism and updated legal terms, although the Aphrodite shareholders have not yet signed a fi nal agreement with Nicosia. The new mechanism for calculating and sharing profi ts - which is called “R factor” - will be based on actual expenses and revenues, and is designed in a way that grants a larger share of profi ts to the government if the project produces higher revenues.
展开▼
