KONTAN.CO.ID - PARIS. TotalEnergies of France and Italy's Eni on Monday announced a significant natural gas discovery at the Cronos-1 well off Cyprus. The island reported its first natural gas discovery, Aphrodite, in 2011, measuring around 4,5 trillion cubic feet (tcf) and now run by US energy firm Chevron.
"Preliminary estimates indicate about 2,5 tcf of gas in place, with significant additional upside that will be investigated by a further exploration well in the area," Eni said in a statement regarding the latest discovery.
It marks the third offshore gas find reported in Cyprus, all of them still untapped, and comes as the European Union seeks alternative supply to Russian gas after Moscow's February invasion of Ukraine.