Glaucus-2 well finds ‘high quality’ natgas

ExxonMobil and Qatar Petroleum, consortium partners in Block 10 of the Cyprus Exclusive Economic Zone (EEZ), have found “high quality natural gas” in the ‘Glaucus-2’ appraisal well, with the drillship Stena Forth departing Sunday to its next contract in Canada.

The Cyprus Ministry of Energy Commerce and Industry said Monday that operations in the EEZ bordering Egypt’s offshore territories, included assessment drilling production testing.

“The consortium will proceed with a detailed analysis and evaluation of the data collected to more accurately determine the qualitative and quantitative characteristics of the reservoir, as well as potential development and commercialisation of the discoveries,” the ministry announcement said.

It added that the consortium is obliged to submit the final data as soon as the evaluation has been concluded.

This is the first drilling in Cyprus EEZ after the onset of the Covid-19 pandemic. Drilling work has been monitored on a continuous basis by staff from the Cyprus Hydrocarbon Company and the ministry.

In 2017, exploration licenses were awarded to the ExxonMobil and Qatar Petroleum consortium for Block 10 and in 2019 the companies announced the discovery of an estimated 5-8 trln cubic feet of natural gas.

According to industry reports, Aberdeenbased Stena Drilling has signed a new contract with ExxonMobil Canada for the drilling of one firm well offshore Eastern Canada where the drillship Stena Forth is currently headed where operations are due to commence in the second half of 2022