ExxonMobil & Qatar Energy Make New Natural Gas Discovery Off Cyprus

html bodyImage for illustration functions best A new natural gasoline discovery has been made south of Cyprus by ExxonMobil an American oil as well as gasoline company and its spouse Qatar Energy The discovery used to be made at the Pegasus1 smartly located in Block 10 of Cyprus exclusive economic region EEZ The neatly lies around 190 kilometers southwest of Cyprus at a water intensity of about 1921 meters 6302 ft According to the Cypriot government the well encountered about 350 meters of gasbearing reservoir However no estimate of the volume of fuel has been launched yet Further checks will probably be carried out within the coming months to guage the overall doable of the find This is the second one discovery through the ExxonMobilQatar Energy consortium in Block 10 In 2019 the similar partnership discovered fuel at the Glaucus1 well which Cypriot officials estimate accommodates round three7 trillion cubic toes tcf of herbal gasoline A observeup well Glaucus2 additionally confirmed the presence of a fine quality fuelbearing formation in the similar area The Pegasus1 smartly is now the 6th confirmed herbal gas deposit inside Cyprus EEZ prior to now 14 years Other fuel discoveries come with Zeus Cronos as well as Calypso positioned in Block 6 which is operated by way of a consortium of Italy s Eni and France s TotalEnergies The Cronos box is predicted to carry approximately 31 tcf of gasoline while Zeus might contain 2Five tcf The Calypso field remains to be being assessed The EniTotal consortium currently holds exploration licenses for 4 blocks in Cyprus offshore area The earliest discovery made in Block 12 is the Aphrodite field predicted to hold round five6 tcf of gasoline It is being evolved by a gaggle made from Chevron NewMed Energy as well as Shell Several development choices are being explored to export this gasoline Gas from the Cronos and Aphrodite fields is anticipated to be despatched to Egypt by means of a pipeline either for home use or for liquefaction at Egypt s Damietta LNG plant before being exported to international markets Another authorized plan comes to the use of a Floating Liquefied Natural Gas FLNG facility on the Aphrodite website online to process gas offshore Cyprus Energy Minister George Papanastasiou has also discussed the opportunity of ExxonMobil Eni as well as Total operating together to expand their within sight discoveries jointly Despite these opportunities several challenges remain Turkey strongly opposes offshore drilling via the Cypriot government until the Turkishmanaged Northern Cyprus gets a percentage of the advantages Turkey has additionally voiced opposition to any plans for a fuel pipeline connecting Cyprus to Greece A undertaking for any such pipeline had US Backing to start with however Washington withdrew its give a boost to in January 2022 as well as the plan has considering been on hang References ekathimerini AP News Disclaimer The knowledge contained on this website online is for 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