ExxonMobil and QatarEnergy Wrap Up Drilling Activities Off Cyprus Coast

Two energy titans, ExxonMobil and QatarEnergy, have successfully completed their drilling operations off the coast of Cyprus. The endeavor, utilizing the Valaris DS-9 drillship, took place at the Elektra-1 prospect within Block 5 of the Republic of Cyprus’s Exclusive Economic Zone. This joint venture, led by ExxonMobil Exploration and Production Cyprus and QatarEnergy International E&P, recently concluded its activities, as confirmed by the Ministry of Energy, Trade, and Industry on April 14.

The initial assessment indicates the discovery of natural gas in non-commercial quantities at Elektra-1. Despite this, the results are promising, showcasing the presence of a viable hydrocarbon system and high-quality reservoirs. The consortium is currently analyzing the data gathered during the drilling process to determine their future plans for the block.

Following the completion of operations at Block 5, the Valaris DS-9 drillship is set to embark on its next exploration endeavor at Block 10. The upcoming Pegasus-1 well drilling, also within Cyprus’s EEZ, will be conducted by the same consortium, consisting of ExxonMobil and QatarEnergy.

ExxonMobil’s recent gas discovery in the Mediterranean Sea’s western region, off Egypt’s coast, has further solidified the company’s position in the energy sector. The utilization of the Valaris DS-9 drillship for this discovery underscores the efficiency and effectiveness of the drilling operations.