ENI launches Cyprus drilling operation at Kronos-2

The Transocean Barrents floating drilling rig has set sail from Limassol and is en route to the Kronos field. It will conduct drilling operations on behalf of the Italian company ENI at the Kronos-2 target in Block 6 of the Cypriot Exclusive Economic Zone (EEZ), approximately 160 kilometers southwest of Cyprus, according to a report from CNA.

Informed sources indicate that the drilling is anticipated to continue until the end of the year or into early 2024. This floating drilling rig recently completed drilling activities in Lebanon's EEZ on behalf of TotalEnergies, finishing around the end of October.

Notably, in August 2022, ENI, the Italian energy company, had announced the discovery of an estimated 2.5 trillion cubic feet of natural gas at the Saturn-1 target.

It was mentioned that there is potential for further exploration through additional drilling in the region.

The Kronos-2 target drilling marks the company's third well in Block Six, following previous drilling at the Kronos-1 target and the Calypso field in 2018.

ENI operates this block with a 50% stake, and TotalEnergies holds a similar share in the endeavor.