A new natural gas discovery has been made south of Cyprus by ExxonMobil, an American oil and gas company, and its partner Qatar Energy.
The discovery was made at the Pegasus-1 well, located in Block 10 of Cyprus’ exclusive economic zone (EEZ). The well lies around 190 kilometers southwest of Cyprus, at a water depth of about 1,921 meters (6,302 feet).
According to the Cypriot government, the well encountered about 350 meters of gas-bearing reservoir. However, no estimate of the quantity of gas has been released yet. Further assessments will be carried out in the coming months to evaluate the full potential of the find.
This is the second discovery by the ExxonMobil-Qatar Energy consortium in Block 10. In 2019, the same partnership found gas at the Glaucus-1 well, which Cypriot officials estimate contains around 3.7 trillion cubic feet (tcf) of natural gas.
A follow-up well, Glaucus-2, also confirmed the presence of a
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