Nicosia: Cyprus’ Minister of Energy, Commerce and Industry, George Papanastasiou, visited the ‘Valaris DS-9’ drillship, where he was briefed on the recent natural gas discovery in the Exclusive Economic Zone (EEZ) of the Republic of Cyprus at the ‘Pegasus-1’ well, located within offshore Block 10.
According to Cyprus News Agency, the Ministry of Energy stated that the drilling was conducted by the ExxonMobil Exploration and Production Cyprus (Offshore) Limited (Operator) and QatarEnergy International E and P LLC consortium. The operation took place approximately 190 kilometers southwest of Cyprus’ coast at a water depth of 1,921 meters. The statement revealed an estimated 350 meters of a gas-bearing reservoir with high-quality characteristics.
This recent discovery at the ‘Pegasus-1’ well is the second significant find in Block 10, following the previous discovery at the ‘Glaucus-1′ well. The Ministry highlighted that this confirms Cyprus’ energy potential and bolsters the nation’s strategic approach to exploiting its natural resources.