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16 June, 2024
 
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Cyprus confirms extensive gas find in 'Cronos-2' project

Cronos-2 drill success sparks Cyprus energy revolution

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The Ministry of Energy, Commerce, and Industry announced the successful completion of the assessment drilling operations for "Cronos-2" within Block 6 of the Exclusive Economic Zone (EEZ) of the Republic of Cyprus. This project was undertaken by the joint venture of Eni Cyprus Limited (Operator) and TotalEnergies EP Cyprus B.V.

Located 160 kilometers off the shores of Cyprus and 3 kilometers from the initial exploration well, "Cronos-1," the drilling confirmed the presence of the same natural gas column within a productive zone exceeding 115 meters within the geological formation. Moreover, it affirmed that the discovery extends the "Cronos" reservoir, exhibiting similar characteristics in carbonate formations.

During the drilling operations, a comprehensive Drill Stem Test (DST) was conducted, showcasing the exceptional quality of natural gas in the reservoir and its high production capability estimated to exceed 150 mmscfd (Million Standard Cubic Feet per Day) under production conditions.

"Cronos" marks the third gas discovery within Block 6 of the Cypriot EEZ, following the "Calypso (2018)" and "Zeus" (2022) discoveries. At present, the Ministry of Energy and the licensee consortium are exploring optimal ways to exploit these reservoirs, potentially supplying gas to the Eastern Mediterranean, Cyprus, and Europe. The consortium's discoveries are anticipated to expedite their development.

Both Eni and TotalEnergies have issued statements celebrating the successful completion of the "Cronos-2" drilling operations.

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