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Agencies ParisFrance’s TotalEnergies and Italy’s Eni announced on Monday a major gas discovery off the coast of Cyprus.“TotalEnergies and Eni (operator) have made a significant gas discovery at the Cronos-1 well, in Block 6, offshore Cyprus. This discovery follows the Calypso-1 discovery made on the same Block in 2018,” TotalEnergies said in a statement.“Located at approximately 160 km southwest of the Cyprus coast, Cronos-1 encountered several good quality carbonate reservoir intervals and confirmed overall net gas pay of more than 260 meters,” the statement added.“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 providing additional sources of gas supply to Europe,” said Kevin McLachlan, Senior Vice President, Exploration at TotalEnergies.It marks the third offshore gas find reported in waters off Cyprus, all of them still untapped, and comes as the European Union seeks alternative supply to Russian gas after Moscow’s February invasion of Ukraine.Cyprus and the companies are ‘already processing ways to expedite and optimise use of this new discovery, (which will) contribute to efforts of Europe in boosting its energy security,’ Cyprus’s Energy Ministry said.Sector rivals are also drilling in the east Mediterranean region where gas output has soared as older discoveries finally bear fruit.An appraisal well reaffirmed a reservoir of high quality gas in another area south-west of the island, Cypriot authorities said in March. TotalEnergies and Eni began drilling work at the Cronos-1 prospect in offshore Block 6 in May. In 2018 they reported a ‘promising’ gas discovery at Calypso-1, another well in Block 6.They are collaborating via local units Eni Cyprus and TotalEnergies EP Cyprus BV and each hold a 50 percent stake.
