Written statement by the Government Spokesman of the Republic of Cyprus, Mr Konstantinos Letymbiotis
During a videoconference between the President of the Republic of Cyprus, Mr Nikos Christodoulides, and the Vice President of ExxonMobil, Mr John Ardill, President Christodoulides was briefed on the new natural gas discovery made at the Pegasus-1 well, in Block 10 of the Exclusive Economic Zone (EEZ) of the Republic of Cyprus.
The discovery follows the successful completion of drilling operations conducted by the consortium of ExxonMobil Exploration and Production Cyprus (Offshore) Limited (Operator) and QatarEnergy International E&P LLC.
The Pegasus-1 well, located about 190 kms offshore southwest of Cyprus, indicated approx. 350 metres of gas-bearing reservoir. The well was safely drilled by the 'Valaris DS-9' drillship in 1,921 metres of water.
Further assessment will be required in the coming months to evaluate the results.
This is the second gas discovery made in Block 10 by ExxonMobil and QatarEnergy, following the discovery at the 'Glaucus-1' well, announced in February 2019. The 'Glaucus-2' appraisal well, completed in March 2022, confirmed the existence of high-quality gas-bearing reservoir.
Source: Government of the Republic of Cyprus
