This news is classified in: Traditional Energy Oil and Gas
Feb 28, 2019
ExxonMobil today said it has made a natural gas discovery offshore Cyprus in the Eastern Mediterranean at the Glaucus-1 well.
The well, located in Block 10, encountered a gas-bearing reservoir of approximately 436 feet (133 meters). The well was safely drilled to 13,780 feet (4,200 meters) depth in 6,769 feet (2,063 meters) of water.
Based on preliminary interpretation of the well data, the discovery could represent an in-place natural gas resource of approximately 5 trillion to 8 trillion cubic feet (142 billion to 227 billion cubic meters). Further analysis in the coming months will be required to better determine the resource potential.
Forecasts by (Type/Class, Work-class, Observation-class, Intervention-class), by Industry (Oil and Gas, Offshore Wind, Defence, Research and Surveying , Others), by Application (Construction Support, Drilling Support, Inspection, Repair, and Maintenance (IRM), Others), by Depth (Less than 5,000 Feet, 5,000-10,000 Feet, Above 10,000 Feet), by Payload (Less than 200 kg, 201-300 kg, Above 300 kg), by Weight (OCROV (up to 91 kg), MSROV (91 kg to 907 kg), WCROV (Above 907 kg)), by Function (Intervention, Crawler, Pipelay, Trenching, Others) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies AND COVID-19 Impact and Recovery Pattern Analysis
Download free sample pages“These are encouraging results in a frontier exploration area,” said Steve Greenlee, president of ExxonMobil Exploration Company. “The potential for this newly discovered resource to serve as an energy source for regional and global markets will be evaluated further.”
Glaucus-1 was the second of a two-well drilling program in Block 10. The first well, Delphyne-1, did not encounter commercial quantities of hydrocarbons.
Block 10 is 635,554 acres (2,572 square kilometers). ExxonMobil Exploration and Production Cyprus (Offshore) Limited is operator and holds 60 percent interest in the block. Qatar Petroleum International Upstream O.P.C. holds 40 percent interest.