Italian Eni announces the discovery of new gas fields off the coast of Cyprus

The Italian energy company Eni announced the discovery of new gas fields off the coast of Cyprus, 162 km and at a depth of 2300 meters, with reserves of 2 to 3 trillion cubic feet.

The statement states that Eni Cyprus, which owns a 50% stake, is a partner of Total Energy. Gas was discovered at the Zeus-1 field, which is the third consecutive discovery in Block 6. The company previously announced gas discoveries at the Kronos-1 and Calypso-1 fields, which confirms the promising prospects for the region and its development.

According to preliminary estimates released by the company, the gas reserves at the Zeus-1 site are between 2 and 3 trillion cubic feet.

Eni has been present in Cyprus since 2013, operating Blocks 2, 3, 6, 8 and 9 and has interests in Blocks 7 and 11, which are managed by Total Energies.

For its part, the Ministry of Energy, Trade and Industry of Cyprus on Wednesday commented on the discovery of new gas reserves in the exclusive economic zone. That “drilling work carried out 5 km west of the Kronos-1 well at a depth of 2300 m under water revealed the presence of a pure natural gas column 105 m high, with a volume, according to preliminary estimates, of only 2 to 3 trillion cubic feet.”

According to Cypriot Energy Minister Natasha Peledo, the discovery of gas in Cyprus raises the prospects for the development of gas fields, especially in the context of the energy crisis in Europe. The minister recalled that she had previously said that her country expects to start exporting gas in 2027.

Source: TASS