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The latest update is out from Cohen Dev ( (IL:CDEV) ).
Cohen Dev Gas and Oil Ltd. announced the approval of an updated development plan for the Aphrodite reservoir in Cyprus, with a production target set for the first phase by the end of 2023. The plan’s approval includes an amendment to the existing concession agreement, and production is scheduled to begin in March 2024, while detailed engineering designs are expected to be completed by August 2024. This development positions Cohen Dev as a key player in the Cyprus gas market, collaborating with Chevron Cyprus Limited and BG Cyprus Limited.
More about Cohen Dev
Cohen Dev Gas and Oil Ltd. operates in the energy sector, primarily focusing on the exploration and development of gas and oil resources. The company is involved in projects that include collaborations with major industry players, indicating a market concentration in significant fossil fuel reservoirs.
YTD Price Performance: 26.59%
Average Trading Volume: 6,995
Current Market Cap: ILS1.13B
For a thorough assessment of CDEV stock, go to TipRanks’ Stock Analysis page.
