Monday, September 26, 2022

TotalEnergies, Eni announce significant gas discovery off Cyprus

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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.

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.

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Senior Vice President of Exploration for TotalEnergies, Kevin McLachlan said, “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 to provide an additional sources of gas supply to Europe.”

The partners plan to drill another exploration well on Block 6 to investigate significant additional resource upside and to evaluate the best development options.

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TotalEnergies holds a 50% interest in Block 6, where Eni is the operator (50%).
In Cyprus, TotalEnergies is also present in offshore Block 11 (50%, operator), 7 (50%, operator), 2 (20%), 3 (30%), 8 (40%) and 9 (20%).

TotalEnergies currently has a 35% working interest in Guyana’s offshore Canje block alongside JHI Associates, Inc. (17.5%), Mid-Atlantic Oil & Gas, Inc. (12.5%), and operator ExxonMobil (35%). It is also in a joint venture with Qatar Petroleum called TOQAP, which has a 25% stake in the Kanuku Block and a 25% stake in the Orinduik Block.

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