Eni, the Italian energy company, announced on Wednesday that drilling to appraise a third natural gas discovery in waters off the coast of Cyprus has confirmed the significant potential of the deposit. In partnership with TotalEnergies of France, Eni is keen to swiftly develop the Cronos-1 deposit and bolster energy supply to Europe.
With an estimated volume of approximately 2.5 trillion cubic feet (70.8 billion cubic meters) of hydrocarbon, the Cronos-1 deposit has demonstrated 'excellent gas deliverability capacity.' The appraisal well, located in Block 6, one of the 13 designated areas within Cyprus' offshore economic zone, was drilled roughly 100 miles (160 kilometers) southwest of the Cyprus coast.
