ExxonMobil and QatarEnergy Begin Natural Gas Drilling Offshore Cyprus

January 26, 2025

11:54 AM

Reading time: 4 minutes


ExxonMobil, in partnership with QatarEnergy, has officially commenced drilling for natural gas in the Mediterranean, specifically within Cyprus’ exclusive economic zone. The announcement was made by Cyprus’ President, Nikos Christodoulides, on Friday, confirming the start of exploration activities in Block 5.

The two energy giants aim to tap into the potential natural gas resources offshore Cyprus, a country hoping to become a reliable and alternative supplier of natural gas to the European Union. In his statement on social media platform X, President Christodoulides noted that this drilling project is a significant step forward for Cyprus, both in energy exploration and in its broader role in the region’s energy security.

Cyprus has long been eyeing its offshore waters as a potential hotspot for substantial natural gas reserves, similar to the discoveries made in the Eastern Mediterranean near Egypt and Israel. ExxonMobil, which had previewed the drilling operation late in 2024, confirmed that it had completed extensive seismic data collection in the area over the past two years, identifying several promising prospects.

John Ardill, ExxonMobil’s Vice President for global exploration, highlighted the "huge potential" for gas exploration in the region, specifically pointing out the Electra prospect as being “highly promising.” The company has now moved to the next phase of testing these prospects with its drilling rig.

Other major international energy companies have also been active offshore Cyprus, with Italy’s Eni and France’s TotalEnergies making significant gas discoveries in recent years. In 2022, Eni and TotalEnergies discovered the Cronos and Zeus fields, and Eni is continuing exploration and appraisal work in the area.

Cyprus, in turn, is looking to kickstart its natural gas production by 2026. According to George Papanastasiou, the country’s Minister of Commerce, Industry, and Energy, Cyprus aims to begin its first-ever natural gas production in just a couple of years, marking a key milestone in the nation’s energy sector.

In addition to the activities in Cyprus, ExxonMobil and Chevron are also exploring oil and gas potential offshore Greece, further signaling growing energy interest in the Mediterranean region.

With these developments, Cyprus is positioning itself to play an important role in Europe’s energy landscape, offering new prospects for natural gas production and an alternative to traditional suppliers.

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