Cyprus hails discovery of new natural gas field

A new natural gas field, which has an estimated yield of two to three trillion cubic feet, was discovered in Cyprus’ exclusive economic zone (EEZ), the Ministry of Energy, Commerce and Industry said in a statement this week.

The gas field was discovered in the Zeus-1 area of EEZ Block 6, 162 km off the southwest coast of Cyprus during drilling on behalf of the Eni-TotalEnergies consortium.

“The drilling revealed the existence of a 105-meter column of clean natural gas, with quantities that, according to preliminary estimates, total between two and three trillion cubic feet (Tcf),” the statement said.

It said that Zeus-1, the third gas field in Block 6 after Kalypso-1 and Cronos-1, has also been successfully tested in terms of its technical quality characteristics.

Both Kalypso-1 and Cronos-1 are owned by the ENI-TotalEnergies consortium. “Kalypso-1” has an estimated yield of up to 6 to 8 trillion cubic feet of gas, while “Cronos-1” has a capacity of 2.5 trillion cubic feet.

Minister of Energy, Commerce and Industry Natasa Pilides told CyBC state radio that the new finding confirms the region’s bright energy potential and facilitates the development of gas reserves in Block 6.

“It strengthens the prospects for developing the gas fields in Block 6, particularly considering the current European energy crisis,” she said.

The ministry and the Eni-TotalEnergies consortium have already begun to examine ways to speed up and optimize the exploitation of the discoveries in Block 6, she added. ■