(Updated) ExxonMobil Makes Deepwater Gas Discovery Off Cyprus

ExxonMobil has made a natural gas discovery with the Glaucus-1 well offshore southwest Cyprus.
Located in block 10 in the Eastern Mediterranean Sea, the well encountered a gas-bearing reservoir of about 436 ft (133 m). The well was drilled in 6,769 ft (2,063 m) of water, reaching a final TD of 13,780 ft (4,200 m).
Based on preliminary interpretation of the well data, the discovery could represent an in-place natural gas resource of about 5 to 8 tcf (142 to 227 bcm). Further analysis in the coming months, the company said, will be required to better determine the resource potential.
“These are encouraging results in a frontier exploration area,” said Steve Greenlee, president of ExxonMobil Exploration Co. “The potential for this newly discovered resource to serve as an energy source for regional and global markets will be evaluated further.”
Glaucus-1 was the second of a two-well drilling program in block 10. The first well, Delphyne-1, did not encounter commercial quantities of hydrocarbons.
Block 10 is 635,554 acres (2,572 sq km). ExxonMobil Exploration and Production Cyprus (Offshore) Ltd. is operator and holds 60percent interest in the block. Qatar Petroleum International Upstream O.P.C. holds 40percent interest.

Source: Offshore

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