Eni announced that it has made a significant gas discovery in the Cronos-1 well, which was drilled in Block 6 in 2,287 meters of water depth, 160 kilometers off the coast of Cyprus. Eni Cyprus, the operator of The Block, has a 50% stake, and TotalEnergies is a partner.
A subsequent exploration well in the area will look into the potential additional upside that is indicated by preliminary estimations to be roughly 2.5 TCF of gas in place.
An important gas column with fair to excellent characteristics was discovered by the well in a succession of carbonate reservoirs. The intensive data collection campaign revealed a net pay of over 260m overall, with intervals possessing outstanding permeability. Fast-track development possibilities are already the subject of studies.
Following the gas discovery of Calypso-1 in 2018, Cronos-1 is the second well in Block 6 and the fourth exploration well drilled by Eni Cyprus.
As part of Eni’s successful drive to increase the supply of gas to Europe, the gas finding of Cronos-1 has the potential to uncover further possibilities in the region.
The finding supports Eni’s exploration strategy, which aims to add value by utilizing its extensive understanding of geological plays and cutting-edge geophysical technologies.