Natural gas discovery offshore Cyprus Block 10

Source: press release, 28 February 2019

‘Stena IceMAX’ is a harsh environment DP Class 3 drillship capable of drilling in water depths up to 3,000 metres
‘Stena IceMAX’ is a harsh environment DP Class 3 drillship capable of drilling in water depths up to 3,000 metres (photo: Stena Drilling)

ExxonMobil and Qatar Petroleum have announced a natural gas discovery offshore Cyprus in the Eastern Mediterranean at the Glaucus-1 well.

The well, located in Block 10, encountered a gas-bearing reservoir of approximately 133 metres. The well was safely drilled to 4,200 metres depth in 2,063 metres of water.

Based on preliminary interpretation of the well data, the discovery could represent an in-place natural gas resource of approximately 5 trillion to 8 trillion cubic feet (142 billion to 227 billion cubic metres). Further analysis in the coming months will be required to better determine the resource potential.

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

After signing an exploration and production sharing contract with the Government of Cyprus in April 2017, ExxonMobil began offshore exploration drilling in Block 10 in November 2018 with our partner Qatar Petroleum International.

Commenting on this discovery, Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, President & CEO of Qatar Petroleum, says, “We are pleased to announce this discovery in Cyprus, which is the second in Qatar Petroleum’s international exploration portfolio. This achievement is an important milestone in our strategy to expand our international footprint.”

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.

Block 10 is 2,572 square kilometres. ExxonMobil Exploration and Production Cyprus (Offshore) Limited is operator and holds 60% interest in the block. Qatar Petroleum International Upstream O.P.C. holds 40% interest.