ENI’s drilling in the “Cronos-2” target within Cyprus’ exclusive economic zone (EEZ) in block 6 appears to have yielded a discovery of a natural gas reservoir, as sources informed the Cyprus News Agency (CNA) that gas flaring took place yesterday.
According to the sources, the occurrence of flaring indicates the presence of a natural gas deposit. The exploration at “Cronos-2” was conducted using the floating rig Transocean Barents, which ENI has leased as the operator of block 6.
This marks 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 trillion cubic feet, and “Calypso,” described by ENI as a “promising discovery” confirming the extension of the “Zhor-like play” in the Cypriot EEZ.
Situated approximately 160 kilometres southwest of Cyprus, Block 6 is operated by Eni with a 50% participation interest, while Total is a partner with the remaining 50%.