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President Nikos Christodoulides was briefed Monday on a new natural gas discovery in the Republic of Cyprus’ Exclusive Economic Zone (EEZ), following a videoconference with ExxonMobil Vice President John Ardill.
Also participating in the briefing were Energy Minister George Papanastasiou and ExxonMobil Cyprus General Manager Varnavas Theodosiou.
The discovery was made at the "Pegasus-1" drilling site in Block 10 by a consortium of ExxonMobil Exploration and Production Cyprus (Offshore) Ltd., the project’s operator, and QatarEnergy International E&P LLC.
The "Pegasus-1" well was drilled safely by the Valaris DS-9 drillship approximately 190 kilometers southwest of the Cypriot coast, at a water depth of 1,921 meters. The operation revealed a 350-meter column of pure natural gas.
Further analysis of the data collected from the site is expected in the coming months to assess the full extent of the find.
This marks the second natural gas discovery in Block 10 by the ExxonMobil-QatarEnergy consortium. The first, at the "Glaucus-1" well, was announced in February 2019. An appraisal well, "Glaucus-2," completed in March 2022, confirmed a high-quality gas reservoir.
