ExxonMobil: Cyprus’ Glaucus-1 well contains at least 5 trillion cubic feet natural gas reserves
ExxonMobil Vice President, Tristan Aspray, met with Cyprus President Nicos Anastasiades on Thursday to discuss the preliminary results of oil and gas exploration efforts in Cyprus’ Block No. 10. According to the oil giant’s Vice President, natural gas reserves in Block No. 10 are estimated to reach somewhere between 5 to 8 trillion cubic feet. Block No. 10 is located southwest of Cyprus Exclusive Economic Zone (EEZ).
ExxonMobil in cooperation with Qatar Petroleum forged a business partnership and started drilling and exploration operations in Block No. 10 since early November 2018. The two-well drilling programme met with success. Operations in the first well, Delphyne-1 were concluded in January 2019 with the results indicating scant quantities of natural gas. On the contrary, the operations on the second well, Glaucus-1, reached a depth of 4.200 meters below sea level to discover the aforementioned volume. The U.S. energy giant reserved to re-examine the preliminary data on greater detail in the coming months to project more concisely the reserve’s actual volume of natural gas.
The discovery in Glaucus-1 well remains so far the most important natural gas field within Cyprus EEZ. Similar positive results were also recorded by U.S. Noble Energy with the Aphrodite field in 2011 while Calypso field in Block 6 showed elements of promise. Italy’s ENI assumed operations in Calypso well and final report on natural gas reserves is expected to be published in the coming months.