New sizeable natural gas field discovered off Cyprus coast

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The Cypriot Energy Ministry announced on Wednesday that between two and three trillion cubic feet of natural gas has been uncovered in exploratory drilling in block six of Cyprus’ Exclusive Economic Zone (EEZ).

The ministry said the discovery by ENI-TotalEnergies consortium in the ‘Zeus-1′ area of Block 6 is some 162 kilometres off Cyprus’ southern coast and at a depth of 2,300 metres.

The block, containing a 105 metre column of gas, is located just 5 kilometres west of the ‘Cronos-1’ well where the consortium announced in August an estimated 2.5 trillion cubic feet of natural gas.

Cypriot Energy Minister Natasa Pilides welcomed the latest find and said that each such discovery strengthens Cyprus’ prospects for developing the gas fields, particularly considering the current European energy crisis compounded by Russia’s war in Ukraine.

The amount of gas already discovered inside Cyprus’ offshore economic zone is conservatively estimated at 12-15 trillion cubic feet, Pilides told The Associated Press.

Other companies also holding exploration licenses for blocks inside Cyprus’ EEZ include Chevron and partners Dutch Shell and Israeli NewMed, as well as ExxonMobil and partner Qatar Petroleum.

Source: Cyprus Mail.

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