Eni makes significant gas find in Cyprus

Cyprus

NICOSIA, August 23, 2022 – Eni has made a major discovery on the offshore Cronos-1 well on Block 6 in Cyprus, the Italian super-major announced on Monday.

The company estimates reserves of 70.8 bcm (2.5 tcf) of gas in place, with significant upside through further exploration.

The exploration well is located 160 kilometres off the coast of Cyprus and was drilled in water depths of 2,290 metres. The campaign showed an overall net pay of 260 metres in a carbonate reservoir sequence.

The Cronos-1 well is the fourth exploration well drilled by Eni’s local subsidiary Eni Cyprus and the second on the block following a gas discovery on Calypso-1 in 2018.

Block 6 is operated by Eni Cyprus, with TotalEnergies holding the remaining stake.