Cypriot Energy Minister Natasha Peledas announced that “the discovery of new gas off the island of Cyprus could accelerate the development of untapped resources and help secure supplies to Europe”, explaining that “preliminary estimates indicate that the reservoir contains 5.2 approximately one trillion cubic feet (70 billion cubic meters) of natural gas.

Peledas added: “As Russia threatens to cut gas supplies to the European Union, Nicosia is in talks with Brussels to become part of the bloc’s energy plan to reduce dependence on Moscow,” noting that she has “contacted” Eni and Total. energy to find ways to make the best use of this discovery.

Italian giant Eni and France’s Total Energy have announced “an important gas discovery in the Kronos-1 formation in Block 6 off the coast of Cyprus.”

The gas was discovered 165 km off the southwestern coast of Cyprus. In 2018, Eni discovered the large Calypso-1 gas field in the same block, which holds about 5.4 trillion cubic feet of gas.

The Cypriot Ministry of Energy announced that “the drilling of a new well, Zeus-1, has begun in Block 6, where additional volumes of gas may be discovered.”
Nicosia has granted exploration licenses for seven blocks to the Eni-Total consortium.