CYPRUS: ENI uncover natural gas reservoir at 'Cronos-2' target

Cyprus, Cyprus EEZ, ENI, Cronos-2, gas drilling, Cyprus gas, Cyprus gas drilling

Drilling at the 'Cronos-2' target by Italy's ENI in Cyprus’ exclusive economic zone (EEZ) block 6 has uncovered a natural gas reservoir with sources telling CNA that gas flaring was carried out at the site on January 18.

The same sources told CNA that flaring signifies that a natural gas deposit has been discovered. The new drilling at the 'Cronos-2' target has been carried out by floating rig Transocean Barents leased by ENI, the operator of block 6.

'Cronos-2' is the fourth discovery in block 6, following 'Zeus' with an estimated quantity of 2-3 trillion cubic feet, 'Cronos-1' with an estimated quantity of 2.5 tfc and 'Calypso,' which ENI described as a “promising discovery” confirming the extension of “Zhor-like play” in the Cypriot EEZ.

Block 6 lies approximately 160 kilometres southwest of Cyprus. Eni is the Operator of block 6 with 50% of participation interest while Total is partner with the remaining 50%.

READ MORE: Greek PM Mitsotakis, and EU Commission President von der Leyen meet at Davos.

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