February 3, 2023

Athens News

News in English from Greece

Another, third in a row, large gas field discovered on the shelf of Cyprus

The Italian energy company Eni has announced the discovery of a new large gas field off the coast of Cyprus.

Company informsthat the Zeus 1 well is the third consecutive discovery in block 6. Eni experts believe that this is a confirmation of the prospects for the area and its development. Zeus-1 was drilled on Block 6, 162 km from the coastline at a depth of 2,300 meters, the company announced Dec. 21. This unit is managed by Eni Cyprus, which owns a 50% stake, with TotalEnergies as a partner. The company said in a statement:

“Zeus-1 is the third consecutive discovery in Block 6. Kronos-1 and Calypso-1 have previously been discovered, and this confirms the promising prospects for the area and its development.”

Gas reserves, according to preliminary estimates, range from 57 to 85 billion cubic meters in this reserve.

The Italian company Eni has been present in Cyprus since 2013. It operates Units 2, 3, 6, 8 and 9 and has interests in Units 7 and 11 operated by TotalEnergies.

In 2019, the American oil company ExxonMobil discovered a gas field southwest of Cyprus with a reserve of approximately 142-227 billion cubic meters.

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