Tribune News Network
Qatar Petroleum (QP) and ExxonMobil on Thursday announced that they have made a significant natural gas discovery on the Glaucus-1 prospect in Cyprus.
The Glaucus-1 well discovery, located in Block 10 in the Eastern Mediterranean, 180 km southwest from Limassol port, represents approximately 133 metres of gas-bearing reservoir.
The well was safely drilled to a depth of 4,200 metres in a water depth of 2,063 metres.
According to a QP statement, based on preliminary interpretation of well data, the discovery could represent an in-place resource of approximately 5 to 8 trillion cubic feet. Further analysis will be undertaken over the coming months to better determine this estimate.
“We are pleased to announce this discovery in Cyprus, which is the second in Qatar Petroleum’s international exploration portfolio. This achievement is an important milestone in our strategy to expand our international footprint,” Minister of State for Energy Affairs and President & CEO of Qatar Petroleum HE Saad Sherida al Kaabi said.
Kaabi added, “I would like to congratulate and thank our partner, ExxonMobil, for the outstanding performance that led to this important achievement.”
Glaucus-1 was the second of a two-well drilling programme in Block 10. The first well, Delphyne-1, did not find commercial quantities of hydrocarbons.
Block 10 covers an area of 2,572 square kilometres, and is operated by ExxonMobil with a 60 percent working interest, alongside Qatar Petroleum with a 40 percent working interest.