Eni, TotalEnergies report major gas find off Cyprus
Italy's Eni and France's TotalEnergies have made a major gas discovery at the Cronos-1 well at Block 6 off the coast of Cyprus, they announced on August 22.
Cronos-1, sunk 160 km southeast of the coast, "encountered several good quality carbonate reservoir intervals and confirmed overall net gas pay of more than 260 m," TotalEnergies said. Eni said preliminary estimates indicated that around 2.5 trillion ft3 of in-place gas had been found, "with significant additional upside that will be investigated by a further exploration well in the area."
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This marks the pair's second discovery at Block 6, following on from the Calypso-1 find made in 2018. Eni said the discovery would support its efforts to provide additional gas supply to Europe, which is working to eliminate Russian gas imports over the coming years.
The two companies each have a 50% stake in block 6, while Eni serves as operator.