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    ExxonMobil Hits Gas off Cyprus

Summary

The find, in Block 10, will take some months to evaluate.

by: William Powell

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ExxonMobil Hits Gas off Cyprus

ExxonMobil announced February 28 that it has found a potentially transformational gas field offshore Cypus with its Glaucus-1 well in Block 10. 

The US major said that the well has hit what could be an in-place resource between 5 and 8 trillion ft³. It will take a few months' analysis to better determine the resource potential.

“These are encouraging results in a frontier exploration area,” said upstream boss Steve Greenlee. “The potential for this newly discovered resource to serve as an energy source for regional and global markets will be evaluated further.”

Glaucus-1 was the second of a two-well drilling program in Block 10. The first well, Delphyne-1, did not encounter commercial quantities of hydrocarbons. ExxonMobil is operator of the 2,572 km² Block 10 with 60%, its sole partner being Qatar Petroleum.