Cyprus’s ExxonMobil Unveils New Natural Gas Discovery

(MENAFN) The government of Cyprus announced Monday that ExxonMobil has made a fresh natural gas discovery within its exclusive economic zone, marking another milestone in the nation’s energy development agenda.

Cypriot government spokesperson Konstantinos Letymbiotis confirmed the drilling operation uncovered a 350-meter gas column. Although detailed capacity figures were not released, Letymbiotis stressed that further evaluations are planned in the coming months to gauge the field’s full potential.

Describing the discovery as “another good gas field,” Energy Minister George Papanastasiou expressed confidence in Cyprus’ expanding offshore energy assets.

Local industry experts, as reported by Cypriot media, estimate the newly found field could hold as much as 3.2 trillion cubic feet of recoverable natural gas. They cautioned that ultimate volumes hinge on the reservoir’s geological properties, especially rock porosity.

This latest find is situated close to an earlier ExxonMobil-operated gas field containing a 133-meter gas column. If confirmed, the discovery would significantly enhance Cyprus’ offshore reserves, currently estimated between 17 and 18 trillion cubic feet across five confirmed fields.

Papanastasiou highlighted ongoing discussions about transporting gas from this and nearby fields to existing infrastructure in Egypt, particularly the Zohr gas field, with plans for subsequent liquefaction at facilities near Alexandria.

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