Eni announces the discovery of 2.5 trillion cubic feet of natural gas offshore Cyprus

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The field is located 160 kilometers from the island at a depth of 2,287 meters

Eni announces a significant gas discovery in the Cronos-1 well, which was drilled in Block 6, 160 kilometers off the coast of Cyprus, at a depth of 2,287 meters. Eni Cyprus operates the Block with a 50% stake, with TotalEnergies as a partner.

According to preliminary estimates, there is approximately 2.5 TCF of gas in place, with significant additional upside that will be investigated by a subsequent exploration well in the area.

In a carbonate reservoir sequence with fair to excellent properties, the well encountered an important gas column. The intensive data acquisition campaign yielded an overall net pay of more than 260m with excellent permeability intervals. Fast-track development options are already being researched.

Cronos-1 is Eni Cyprus’s fourth exploration well and the second in Block 6, following the gas discovery of Calypso-1 in 2018.

Cronos-1’s gas discovery has the potential to unlock additional potential in the area and is part of Eni’s successful effort to provide additional gas supply to Europe.

The discovery validates Eni’s exploration strategy of creating value through deep knowledge of geological plays and the use of advanced geophysical technologies.

Since 2013, Eni has had a presence in Cyprus. The Company operates Blocks 2, 3, 6, 8, and 9, and has a stake in Blocks 7 and 11, which are operated by TotalEnergies.

Source

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