Global and Regional MarketsNewsThe Offshore Frontier

ExxonMobil makes natural gas discovery offshore Cyprus

ExxonMobil has announced it has made 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 436 ft (133 m). The well was safely drilled to 13,780 ft (4,200 m) depth in 6,769 ft (2,063 m) 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 cu ft (142 billion to 227 billion cu m). Further analysis in the coming months will be required to better determine the resource potential.

“These are encouraging results in a frontier exploration area,” said 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.”

The Glaucus-1 was the second of a two-well drilling program in Block 10. The first well, the Delphyne-1, did not encounter commercial quantities of hydrocarbons.

Block 10 is 635,554 acres (2,572 sq km). ExxonMobil Exploration and Production Cyprus is the operator and holds 60% interest in the block. Qatar Petroleum International Upstream O.P.C. holds 40% interest.

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