New Huge natural gas field has been discovered off Cyprus.

[Akritas]

A large natural gas field off Cyprus was discovered by the Italian hydrocarbon company Eni and the French TotalEnergies, which are conducting research in the Block 6 of the EEZ Cyprish Republic. Natural gas reserves of 70 billion cubic meters have been found in the area included in the drilling license obtained by the two companies. The deposit was named Cronos and is located 160 kilometers from the coast of Cyprus and at a depth of 2,287 meters.

Italian newspaper La Repubblica reports that this is a huge deposit, "one of the largest in the world", as it points out, and that it will take about a year before its exploitation can begin. He adds that in this way it will be possible to increase the energy autonomy of Italy and the whole of Europe. La Repubblica reports at the same time that Israel has expressed interest in the creation of a natural gas pipeline, which would pass through Cyprus and reach Greece and various other EU countries.

Εντοπίστηκε τεράστιο κοίτασμα φυσικού αερίου ανοιχτά της Κύπρου - «Ένα από τα μεγαλύτερα του κόσμου» | LiFO

Βρέθηκαν αποθέματα 70 δισεκατομμυρίων κυβικών μέτρων.

www.lifo.gr

TotalEnergies and ENI make major gas discovery off the shore of Cyprus

Energy companies TotalEnergies and ENI said they had made a significant gas discovery at the Cronos-1 well, in Block 6, offshore Cyprus.

www.reuters.com

2.5 tcf deposit discovered by Eni-Total consortium in Block 6 | eKathimerini.com

The Eni-Total consortium made an important discovery of natural gas in Cyprus’s Block 6.

www.ekathimerini.com

 

[Chat SAMOSA]

Good news. I have both Eni and tte.

 

[Hamartia Antidote]

Well I hope this doesn't cause more Greek/Turkish issues in Cyprus

 

[Indos]

I have tried to calculate it, it is around 2.4 TCF (Trillion Cubic Feet), I would say it is medium discovery.

I would say it large if the reserve is double that number, around 5 TCF.

Just for comparison, the new founding of large gas reserve in Indonesia for this year is 12 TCF in one oil and gas block, with possibility for another drill to get another 6 TCF, so total for the one oil and gas block could be 18 TCF ( 12 TCF is already proven as drilling has been completed), see another 60 days if we can possible get another 6 TCF Hopefully in the same block. Oil is also found but not as big as gas reserve.

 

[Akritas]

Well I hope this doesn't cause more Greek/Turkish issues in Cyprus

If the EU and the USA decide to exploit the Cypriot deposits, then there will be no problem. However, the Turkey will certainly send a drilling ship to the Cypriot EEZ, just to create the well-known disturbing problems.

 

[Foinikas]

Well I hope this doesn't cause more Greek/Turkish issues in Cyprus

Erdogan will probably demand that we share the profit with the Turkish Cypriots or threaten with war.Turkey claims the Greek Cypriot EEZ and we had tensions in 2019-2020 also because of this.

 

[Foinikas]

I have tried to calculate it, it is around 2.4 TCF, I would say it is medium discovery.

I would say it large if the reserve is double that number, around 5 TCF

There's more in the other fields as well.

 

[Indos]

There's more in the other fields as well.

Is it deep water drill or swallow ? If it is swallow water, that is quite good since for our case it is deep water drilling, more cost needed to suck the oil and gas.

Sure that number is big for country like Greece with 10 million people and it is indeed a big boost for Western European countries if Greece is already in gas surplus.

 

[Wergeland]

I have tried to calculate it, it is around 2.4 TCF (Trillion Cubic Feet), I would say it is medium discovery.

I would say it large if the reserve is double that number, around 5 TCF.

Just for comparison, the new founding of large gas reserve in Indonesia for this year is 12 TCF in one oil and gas block, with possibility for another drill to get another 6 TCF, so total for the one oil and gas block could be 18 TCF ( 12 TCF is already proven as drilling has been completed), see another 60 days if we can possible get another 6 TCF Hopefully in the same block. Oil is also found but not as big as gas reserve.

Its not that big if you compare it with major Gulf and Russian gas discoveries. In a Euroepan setting its quite huge.

Congrats to people of Cyprus. May it benefit the average man and woman.

 

[Indos]

Its not that big if you compare it with major Gulf and Russian gas discoveries. In a Euroepan setting its quite huge.

Congrats to people of Cyprus. May it benefit the average man and woman.

USA has around 150 TCF proven gas reserves while Turkmenistan with 265 TCF proven gas reserve. Nigeria has 208 TCF proven reserve. That reserve is really really big. Pakistan can get cheaper gas if there is pipe line from Turkmenistan to Pakistan. Buying LNG is much more expensive.

USA also has the most oil production on earth while Nigeria is among big oil producers as well.

 

[Foinikas]

My Pakistani friend sent me this:

 

[Abid123]

USA has around 150 TCF proven gas reserves while Turkmenistan with 265 TCF proven gas reserve. Nigeria has 208 TCF proven reserve. That reserve is really really big. Pakistan can get cheaper gas if there is pipe line from Turkmenistan to Pakistan. Buying LNG is much more expensive.

USA also has the most oil production on earth while Nigeria is among big oil producers as well.

Pakistan can get gas and oil from Iran. That is financially the best option.

 

[lastofthepatriots]

Congratz

 

[Indos]

Pakistan can get gas and oil from Iran. That is financially the best option.

That is right, does it need to get through Afghanistan ? If not the case, then Pakistan should get it.

 

[Akritas]

Let me add something important:
Cyprus (Greek Cypriots and Turkish Cypriots) is the only country in the region that cannot exploit its gas reserves, due to Turkey's military threats and interventions. At the beginning, Turkey said that the Turkish Cypriots should also be recipients.

Republic of Cyprus accepted it from the first moment, but Turkey as usual has made its own maps and considers them...Turkish, sending war ships, threating with new wars.
.
The absurdity of Turkey can be seen in the map below..

So, Egypt and Israel are mining, selling their gas, and Cyprus can't move forward because of a very bad neighbor.