Eni announces an “important” gas discovery with the Cronos-1 well, in Block 6, about 160 kilometers off the coast of Cyprus, in a water depth of 2,287 meters. This is what we read in a note from the company, which specifies how the block is operated by Eni Cyprus with a 50% share. TotalEnergies is partner with the remaining 50%. Preliminary estimates, it says, “indicate about 2.5 Tcf (trillion cubic feet) of gas in place, with significant additional potential that will be evaluated with a further exploration well”.
The Cronos-1 well is the fourth exploration well drilled by Eni Cyprus and the second in Block 6, after the Calypso-1 gas discovery in 2018. “The discovery of Cronos-1 – explains Eni – creates the conditions to lead to development of further potential volumes of gas in the region and represents one of the actions achieved by Eni to support the supply of additional gas to Europe. This discovery confirms the effectiveness of Eni’s exploration strategy, aimed at creating value through the deep knowledge of geological basins and the application of proprietary geophysical technologies. Eni has been present in Cyprus since 2013. The company operates blocks 2, 3, 6, 8 and 9, and holds stakes in blocks 7 and 11 operated by TotalEnergies ».