US energy giant ExxonMobil said on February 28 that it has made an offshore natural gas discovery in the Eastern Mediterranean near Cyprus at the Glaucus-1 well.

The Well is located in offshore Block 10 southwest of Cypriot coast. Exxon said further evaluation of the Block’s potential will continue.

Based on the preliminary interpretation of the well’s data, the discovery could represent an in-place natural gas resource of approximately 142 billion to 227 billion cubic metres, Exxon said in a press release, adding that further analysis in the coming months will be required to better determine the resource potential.


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