Doha: Qatar Petroleum and ExxonMobil announced that they have made a significant natural gas discovery on the Glaucus-1 prospect, located in Block 10 in the Eastern Mediterranean, approximately 180 kilometers south west from Limassol port, offshore Cyprus.

The Glaucus-1 well encountered approximately 133 meters of gas-bearing reservoir. The well was safely drilled to a depth of approximately 4,200 meters in a water depth of 2,063 meters. Based on preliminary

interpretation of well data, the discovery could represent an in-place resource of approximately 5 to 8 trillion cubic feet. Further analysis will be undertaken over the coming months to better determine this estimate.

Commenting on this discovery, H E Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, President & CEO of Qatar Petroleum, said: “We are pleased to announce this discovery in Cyprus, which is the second in Qatar Petroleum’s international exploration portfolio. This achievement is an important milestone in our strategy to expand our international footprint.”

Al Kaabi added: “I would like to congratulate and thank our partner, ExxonMobil, for the outstanding performance that led to this important achievement.”

Glaucus-1 was the second of a two-well drilling program in Block 10. The first well, Delphyne-1, did not encounter commercial quantities of hydrocarbons.

Block 10 covers an area of 2,572 square kilometers, and is operated by ExxonMobil with a 60% working interest, alongside Qatar Petroleum with a 40% working interest.