CNA News

Energy Ministry announces positive appraisal of Cronos-2 target in Cyprus’ EEZ

The Energy Ministry announced on Thursday the successful completion of an appraisal well at Cronos-2 target in Block 6 of Cyprus’ Exclusive Economic Zone (EEZ) by the Εni Cyprus Limited (operator) and TotalEnergies EP Cyprus B.V. consortium.

According to a Ministry announcement, the well located 160 km off the coast of Cyprus, confirmed the lateral extension of the Cronos-1 discovery, 3 km away, revealing a net reservoir thickness of 115 meters.

Moreover, it is noted that a Drill Steam Test (DTS) was also carried out, recording the “high quality of natural gas in the reservoir” as well as its high production capacity estimated to exceed 150 million Standard Cubic Feet per Day (MMSCFD) in production configuration.

Cronos is the third natural gas discovery in Block 6, along with Calypso in 2018 and Zeus in 2022, it is added. At the present stage, the Ministry together with the consortium are looking into ways for the optimal exploitation of the gas deposits. This, the Ministry goes on, will concern gas supply in the Eastern Mediterranean, Cyprus, and Europe, while the cluster of gas discoveries is expected to accelerate their development.

Eni and TotalEnergies also issued separate announcements for the appraisal of the Cronos gas discovery.

The production test is “instrumental in progressing with the studies to select the best fast-track development option” says Eni. The well has encountered the same carbonate reservoir sequence as Cronos-1, confirming hydraulic communication and connected thick gas column with excellent permeability intervals, the company adds.

It notes that “together with an extensive data acquisition, Cronos-2 underwent a full and prolonged production test that proved the excellent gas deliverability capacity of the discovery.”

Drilling Cronos-2 shortly after the discovery of Cronos “confirms the commitment of Eni and its partner TotalEnergies, to progress swiftly towards the selection of the most suitable and economically viable development solution, which will contribute to the supply of gas to Europe and the region” Eni concludes.

The production test confirmed an excellent gas deliverability of the well, notes the announcement by TotalEnergies.

“The successful appraisal of the Cronos gas discovery confirms the presence of significant resources and production potential in Block 6. Full evaluation of the discovered resources will now be carried out to determine the best development option to contribute to supply gas to Europe and to the region”, said Julien Pouget, Senior Vice President Middle East & North Africa, Exploration & Production at TotalEnergies.

Block 6 is operated by Eni holding 50% interest, with TotalEnergies as partner also holding 50% interest. Eni also operates Blocks 2, 3, 8, and 9, and has participating interests in Blocks 7 and 11 operated by TotalEnergies. In Cyprus, TotalEnergies is also present in offshore Block 2 (with 20%), 3 (30%), 8 (40%) and 9 (20%).