Through leading a consortium, ExxonMobil discovered a reservoir of natural gas at a prospect off the island’s coast, Reuters reported, citing Konstantinos Letymbiotis, the spokesperson of the Cypriot government.
He explained that drilling operations revealed a 350-meter reservoir of natural gas at a depth of 1.9 kilometers in the Pegasus-1 well.
Letymbiotis highlighted that this marks the second gas discovery in Block 10 by partners ExxonMobil and QatarEnergy, following the Glaucus-1 find announced in February 2019.
He added that additional evaluation will be needed in the coming months to fully assess the findings.
Earlier in 2025, drilling at Electra-1 confirmed a hydrocarbon system with good-quality reservoirs, but not enough gas to be commercially viable.
