InsiderEconomyAppraisal well in Block 10 of Cyprus' EEZ shows high quality natural...

Appraisal well in Block 10 of Cyprus’ EEZ shows high quality natural gas reservoir

The “Glaucus-2” appraisal well in Block 10 of the Exclusive Economic Zone (EEZ) of the Republic of Cyprus revealed the existence of high quality natural gas, according to an announcement issued on Monday by the Ministry of Energy, Trade and Industry.

As stated, the drilling operations, which included production testing and which were carried out by the ExxonMobil Exploration and Production Cyprus (Offshore) Limited – Qatar Petroleum International Upstream LLC consortium, which holds a Hydrocarbon Exploration Licence for this Block, identified the presence of a natural gas reservoir with high quality characteristics.

It is noted that the consortium will proceed with a detailed analysis and evaluation of the data collected to more accurately determine the qualitative and quantitative characteristics of the reservoir, as well as potential development and commercialization options for the discovery.

In addition, the consortium will communicate to the Ministry of Energy, Trade and Industry the results of the evaluation of the data collected from the drilling and testing activities once the evaluation is completed.

Finally, it is reminded that the appraisal drilling operations in “Glaucus-2” began on 20 December 2021 and were carried out by the drilling vessel “Stena Forth”, which departed from the drilling site late on Sunday evening.

(CNA)

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