ExxonMobil asks for 2-year extension to drilling rights - KATHIMERINI

25.AUG.2022 • 22:43
Chryssa Liaggou

Energy multinational ExxonMobil has asked for a two-year extension to the lease of two fields west and southwest of Crete for oil and gas exploration.

The two fields had been leased to France’s Total for three years in October 2019, but it withdrew last April.

ExxonMobil and Greek refiner HELPE have stepped in.

Cyprus’ total potential natural gas capacity now between 11.7 tcf and 14 .7 tcf - IN-CYPRUS

23 AUGUST 2022

Annie Charalambous

TotalEnergies TTEF.PA of France and Italy’s Eni ENI.MI’s significant natural gas discovery at the Cronos-1 well off Cyprus raises the Mediterranean island’s total potential capacity between 11.7 tcf and 14 .7 tcf.

This is what Philenews reported on Tuesday, hours only after Eni said preliminary estimates indicate about 2.5 tcf of gas in place, with significant additional upside that will be investigated by a further exploration well in the area.

The island reported its first natural gas discovery, Aphrodite, in 2011, measuring around 4.5 trillion cubic feet (tcf) and now run by U.S. energy firm Chevron CVX.N.

Monday’s discovery marks the third offshore gas find reported in Cyprus, all of them still untapped.

And it comes as the European Union seeks alternative supply to Russian gas after Moscow’s February invasion of Ukraine.

Eni makes a significant gas discovery offshore Cyprus - ENI

22 AUGUST 2022 - 11:00 AM CEST

San Donato Milanese (Milan), 22 August 2022 – Eni announces a significant gas discovery in the Cronos-1 well drilled in Block 6, 160 km off Cyprus coastline, in 2,287 metres of water depth. The Block is operated by Eni Cyprus holding 50% interest with TotalEnergies as partner.

Preliminary estimates indicate about 2.5 TCF of gas in place, with significant additional upside that will be investigated by a further exploration well in the area.

The well has encountered an important gas column in a carbonate reservoir sequence of fair to excellent properties. The intense data acquisition campaign has shown an overall net pay of more than 260m with intervals owning excellent permeability. Studies on a fast-track development options are already ongoing.

TotalEnergies and ENI make major gas discovery off the shore of Cyprus - REUTERS / UPSTREAM ONLINE

August 22, 202212:08 PM GMT+3

PARIS, Aug 22 (Reuters) - Energy companies TotalEnergies (TTEF.PA) and ENI (ENI.MI) said they had made a significant gas discovery at the Cronos-1 well, in Block 6, offshore Cyprus.

Cronos-1 probe in Block 6 has found at least 2.5 Tcf of gas in place, with significantly more potential, according to the operator, as per UpStream Online

Cronos-1 encountered several good quality carbonate reservoir intervals and confirmed overall net gas pay of more than 260 meters, said TotalEnergies in a statement.

"This successful exploration well at Cronos-1 is another illustration of the impact of our Exploration strategy which is focused on discovering resources with low technical cost and low carbon emissions, to contribute to energy security including to provide an additional sources of gas supply to Europe," said Kevin McLachlan, Senior Vice President, Exploration at TotalEnergies.