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.
Cronos-1 well is the fourth exploration well drilled by Eni Cyprus and the second well in Block 6, following the gas discovery of Calypso-1 in 2018.
The gas discovery of Cronos-1 can unlock additional potential in the area and is part of Eni’s successful effort to provide further gas supply to Europe.
The discovery confirms the effectiveness of Eni’s exploration strategy aimed at creating value through its deep knowledge of geological plays and the application of advanced geophysical technologies.
Eni has been present in Cyprus since 2013. The Company operates Blocks 2, 3, 6, 8, and 9, and has participating interests in Blocks 7 and 11 operated by TotalEnergies.
About Eni
Eni is an integrated energy company employing more than 34.000 people in 69 countries in the world. Eni engages in oil and natural gas exploration, field development and production, as well as in the supply, trading and shipping of natural gas, LNG, electricity and fuels. Through refineries and chemical plants, Eni processes crude oil and other oil-based feedstock to produce fuels, lubricants and chemical products that are supplied to wholesalers or through retail networks or distributors.
About TotalEnergies
TotalEnergies is a broad energy company that produces and markets energies on a global scale: oil and biofuels, natural gas and green gases, renewables and electricity. Our 105,000 employees are committed to energy that is ever more affordable, clean, reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.