Dec. 21 (UPI) — Italian energy company Eni said Wednesday it made a natural gas discovery in the deep waters off the coast of Cyprus that confirms a “promising outlook” for the basin.
Eni made the discovery in the deep waters of the Zues-1 prospect, located about 100 miles offshore. It’s the third find for the Italian company in the area and “confirms the promising outlook for the area and its development.”
Combined with past discoveries in the broader area dubbed Block 6, Eni estimates the reservoir holds between 2 trillion and 3 trillion cubic feet of natural gas. The U.S. economy, by comparison, consumed around 30 trillion cubic feet of natural gas last year.
“Results of the test are being incorporated in the evaluation of the discoveries cluster that will drive subsequent studies and operations targeting a fast-track development of Block 6,” Eni stated.
Developments off Cyprus are contentious given regional claims made by Turkey. The Turkish military in 2018 dispatched military vessels to block Eni from carrying out operations in Cypriot waters. Two years later and the European Union imposed harsh sanctions on Turkey for drilling for gas off Cyprus.
Eni has been present in Cyprus since 2013, serving as the operator of five blocks offshore. Block 6, the location of the recent find, is operated by Eni’s division in Cyprus, with TotalEnergies from France holding a 50% interest.
