ExxonMobil gas discovery boosts Cyprus’ energy hopes
The find may revive interest in establishing an LNG plant on the island
Since last October, Cypriots had been holding their breath, waiting for news of ExxonMobil's drilling in offshore Block 10. The result looks promising—it could well be the island's biggest discovery thus far, with the US major saying there is 6-8tn ft3 of natural gas in place in the Glaucus-1 well. The gas-bearing reservoir lies in 436ft (133m) of water. The Glaucus-1 find follows Eni's announcement last year of the discovery of around 6tn ft3 at its Calypso-1 well in Block 6. The first gas find in Cyprus' offshore, Aphrodite in Block 12 made in 2011, has an estimated 4.5tn ft3 in place. Noble Energy is the operator, in partnership with Shell and Delek Drilling. ExxonMobil says that evaluat
Also in this section
28 April 2026
Oil traders warning of $200/bl oil are wrong, and the market should be wary of proclamations that the impact of the oil shortage has only begun to be felt and a that a ‘harsh adjustment’ is coming—even for industrialised nations
28 April 2026
Restoring supply from Saudi Arabia, the UAE, Kuwait, Qatar, Bahrain and Iraq involves complexities far beyond simply adjusting operational controls
28 April 2026
Datacentres will guzzle power at a ferocious rate, but the impact on wider energy markets will be far more complex than previously thought
28 April 2026
The key energy player faces balancing regional routes, political complexities, and creating a clear strategic vision for energy security
