Press Releases

 The Ministry of Energy, Commerce and Industry announces that with the conclusion of operations at “Glaucus-1” well, the first phase of the exploration programme by the consortium of ExxonMobil Exploration and Production Cyprus (Offshore) Limited and Qatar Petroleum International Upstream OPC, in Block 10 of the Exclusive Economic Zone of the Republic of Cyprus, has been successfully completed.

On February 17, 2019, the “Glaucus-1” well reached a final drilling depth of 4.200 metres below sea level, in 2.063 metres of water. A discovery of 133 metres natural gas-bearing reservoir of excellent quality has been made, which based on preliminary analysis is estimated to represent in place quantities of natural gas of 5 to 8 trillion cubic feet (Tcf). To better determine the quantity of natural gas in the “Glaucus-1” reservoir, further evaluation work will take place in the coming months.

“Glaucus-1” was the second of a two-well drilling programme in Block 10, with the operations for the first well at “Delphyne-1”, between November 2018 and January 2019, not encountering commercial quantities of hydrocarbons.

(ML)