ENI unearths natural gas treasure in Cyprus

ENI’s drilling in ''Cronos-2'' target in Cyprus’ exclusive economic zone (EEZ) block 6 seems to have discovered a natural gas reservoir with sources telling CNA that gas flaring was carried out yesterday.

The same sources told CNA that flaring signifies that a natural gas deposit has been discovered. The new drilling in "Cronos-2" target has been carried out by floating rig Transocean Barents leased by ENI, the operator of block 6.

"Cronos-2" is the fourth discovery in block 6, following "Zeus" with an estimated quantity of 2-3 trillion cubic feet, "Cronos-1" with an estimated quantity of 2.5 tfc and "Calypso", which ENI described as a “promising discovery” confirming the extension of “Zhor-like play” in the Cypriot EEZ.

Block 6 lies approximately 160 kilometres southwest of Cyprus. Eni is the Operator of block 6 with 50% of participation interest while Total is partner with the remaining 50%.