ExxonMobil has made a natural gas discovery offshore Cyprus in the Eastern Mediterranean at the Glaucus-1 well, adding another large discovery to the region.
Located in Block 10 and drilled to a depth of 13,780ft in 6,769ft of water, the Glaucus-1 well encountered a gas-bearing reservoir of about 436ft.
The Glaucus-1 well is located in offshore Block 10 south-west of Cyprus.
Along with its partner Qatar Petroleum (QP), ExxonMobil estimated in-place natural gas resources in the reservoir to be between five to eight trillion cubic feet (tcf). This was based on preliminary interpretation of the well data.
ExxonMobil Exploration Company president Steve Greenlee said: “These are encouraging results in a frontier exploration area. 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 programme in Block 10 after the first well, Delphyne-1, which failed to encounter commercial quantities of hydrocarbons.
Cyprus Energy Minister George Lakkotrypis was quoted by media sources as saying that the latest discovery is the biggest find worldwide in the past couple of years.
ExxonMobil Exploration and Production Cyprus (Offshore) operates the 635,554 acres Block 10 with a 60% interest and the remaining 40% is held by Qatar Petroleum International Upstream.
The significant gas discovery offshore Cyprus is expected to enhance EU energy security.
Last month, ExxonMobil made two discoveries in the Stabroek Block offshore Guyana at the Tilapia-1 and Haimara-1 wells.
This brought the total number of discoveries on the 26,800km² Stabroek Block to 12.