- ExxonMobil finds new gas field in Cyprus with an estimated 350m gas column.
- Discovery could hold up to 3.2 TCF of recoverable gas, pending geological assessment.
- Cyprus plans gas transport to Egypt, aligning with regional LNG infrastructure.
The government of Cyprus reported a major new natural gas discovery by ExxonMobil within its exclusive economic zone (EEZ), an important step in Cyprus’s broader energy development plan.
Government spokesperson Konstantinos Letymbiotis stated on Monday that ExxonMobil’s drilling operation found a gas column measuring 350 meters. The total capacity of the field is still undetermined, but over the coming months geological evaluation will take place to determine the commercial viability of the field.
Cypriot Energy Minister George Papanastasiou called the find “another good gas field,” indicating continued momentum in the country’s offshore energy exploration. The discovery lies close to a previously identified ExxonMobil-operated field that contains a 133-meter gas column.
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According to local analysts cited by Cypriot media, the newly discovered field could potentially have recoverable natural gas resources of up to 3.2 trillion cubic feet (TCF); however, they cautioned that final capacity estimates would depend on both rock porosity and other geological factors.
Cyprus’ confirmed offshore reserves are estimated to be already between 17 and 18 TCF across five fields, thus, if confirmed, the new field could add substantially to this total and elevate the country's role on the East Mediterranean energy map.
Minister Papanastasiou indicated that conversations are still taking place around the option of bringing gas from the new field, and the surrounding fields to Egypt’s infrastructure, such as the Zohr gas field, to liquefy it eventually at Alexandria’s LNG terminals.
This find further cements Cyprus in the regional energy landscape, and further substantiates its goal of becoming a major player in natural gas exports from the Eastern Mediterranean.