French energy giant TotalEnergies and Italian ENI announced a significant gas discovery at the Cronos-1 well in the unilaterally declared so-called block 6, declared by the Greek Cypriot administration, offshore Cyprus, the companies announced on Monday.
According to preliminary estimates, about 2.5 trillion cubic feet of gas (approx. 70.8 billion cubic meters) was discovered in place, with significant additional upside that will be investigated by a further exploration well in the area, ENI said.
The discovery came after the discovery of the Calypso-1 on the same block in 2018.
Located approximately 160 kilometers southwest off the Cyprus coast, Cronos-1 encountered several good quality carbonate reservoir intervals and confirmed overall net gas pay of more than 260 meters, the companies confirmed.
'This successful exploration well at Cronos-1 is another illustration of the impact of our exploration strategy, which is focused on discovering resources with low technical cost and low carbon emissions, to contribute to energy security, including to provide additional sources of gas supply to Europe,' Kevin McLachlan, senior vice president of TotalEnergies, was quoted as saying in the statement.
TotalEnergies holds a 50% interest in the so-called Block 6, while Eni holds the remaining 50% stake as operator.
By Sibel Morrow
Anadolu Agency
energy@aa.com.tr