Eni and TotalEnergies announce gas discovery offshore Cyprus

The Cronos-1 well is estimated to hold approximately 2.5 trillion cubic feet of gas.

Italy’s Eni and its partner TotalEnergies have made a significant gas discovery in Block 6, offshore Cyprus.

Following the drilling of the Cronos-1 well to a water depth of 2,287m, the partners identified several good quality carbonate reservoir intervals, and confirmed over 260m of overall net gas pay.

Eni said in a statement: “The intense data acquisition campaign has shown an overall net pay of more than 260m, with intervals owning excellent permeability. Studies on a fast-track development options are already ongoing.

As per the preliminary estimates, the discovery holds approximately 2.5 trillion cubic feet of gas in place. It also has significant additional upsides that will be investigated by a further exploration well in the area.

TotalEnergies exploration senior vice-president Kevin McLachlan said: “This successful exploration well at Cronos-1 is another illustration of the impact of our exploration strategy, which is focused on discovering resources with low technical cost and low carbon emissions, to contribute to energy security, including to provide an additional sources of gas supply to Europe.”

The Cronos-1 prospect was drilled using the Tungsten Explorer drillship.

The partners plan to drill another exploration well at Block 6 to assess significant additional resource upsides and evaluate the development options.

Eni Cyprus operates the block with a 50% interest while TotalEnergies owns the remaining stake.

In Cyprus, Eni operates Blocks 2, 3, 6, 8, and 9, and holds participating stakes in Blocks 7 and 11 that are operated by TotalEnergies.