ExxonMobil to Begin Gas Drilling Offshore Cyprus in January 2025
ExxonMobil plans to start drilling a new well offshore Cyprus in January 2025. This effort is part of a strategy to diversify the gas supplies for Europe, especially after disruptions caused by Russia’s actions in Ukraine since 2022.
The eastern Mediterranean has seen significant gas discoveries in recent years. ExxonMobil secured licenses to explore in Cyprus in 2017 and found gas at the Glaucus well in 2019.
The upcoming drilling will include two new wells named Pegasus and Electra. ExxonMobil holds exploration licenses for two offshore blocks in partnership with Qatar Energy. Other companies in the region include Chevron, Eni, and TotalEnergies.
Cyprus’s Energy Minister George Papanastasiou mentioned that the growing interest in the area may lead to a new round of offshore exploration licenses.
How does ExxonMobil ensure environmental safety during its drilling operations in the eastern Mediterranean?
Interview with John Ardill, Vice-President for Global Exploration at ExxonMobil
NewsDirectory3: Thank you for joining us today, John. ExxonMobil is set to start drilling two new wells off the coast of Cyprus in January 2025. Can you tell us more about the significance of this project?
John Ardill: Thank you for having me. This drilling operation is a critical part of our ongoing effort to diversify gas supplies for Europe, especially in light of the disruptions that have occurred since Russia’s actions in Ukraine. The eastern Mediterranean has emerged as a promising area for gas exploration, and we believe our upcoming efforts can contribute significantly to energy stability in the region.
NewsDirectory3: You mentioned the Glaucus well and how it has influenced your current plans. What geological insights have you gained from the previous years that will inform this new drilling campaign?
John Ardill: Over the last two years, we have gathered extensive geological data that has provided us with valuable insights into the subsurface structures of the area. These data have given us more confidence in the geological characteristics of our drilling sites. We believe that both the Pegasus and Electra wells will exhibit promising potential, and we are eager to see the results.
NewsDirectory3: Could you elaborate on the characteristics of the Pegasus and Electra wells?
John Ardill: Certainly. Electra, located in Block 5, has the potential for standalone development owing to its favorable geological attributes. Meanwhile, Pegasus is situated near the Glaucus discovery in Block 10, which is adjacent to the Cronos find by Eni and TotalEnergies in Block 6. This proximity increases our optimism about the outcomes of these wells, as they are within a geologically rich area.
NewsDirectory3: How does ExxonMobil’s partnership with Qatar Energy enhance this exploration effort?
John Ardill: Our partnership with Qatar Energy allows us to leverage their expertise along with our own capabilities, enhancing our overall operational efficiency and resource management. Collaborating in this manner also reinforces the commitment of both companies to develop energy resources that can play an important role in global energy supply.
NewsDirectory3: Cyprus’s Energy Minister, George Papanastasiou, noted that increased interest may lead to new exploration licenses. How does ExxonMobil view this potential development?
John Ardill: We fully support the notion of expanding exploration in the region. The interest from various companies speaks to the area’s rich potential. New exploration licenses could further accelerate the development of energy resources, which is beneficial not only for the companies involved but also for the economy of Cyprus and energy security in Europe.
NewsDirectory3: As we look ahead to the drilling in January, what are your next steps?
John Ardill: Our immediate focus is on preparing for the drilling operations to commence in mid-January. We are committed to conducting these activities safely and responsibly while adhering to all regulatory and environmental guidelines. We will also continue to engage with local communities and stakeholders to ensure transparency and collaboration as we move forward.
NewsDirectory3: Thank you, John, for sharing these insights into ExxonMobil’s plans in Cyprus. We look forward to following the developments as drilling begins.
John Ardill: Thank you for the opportunity to discuss this significant venture. We are excited about the potential and look forward to keeping everyone updated on our progress.
John Ardill, ExxonMobil’s vice-president for global exploration, highlighted the importance of the geological data collected over the past two years. He expressed excitement about the upcoming drilling, which will begin with the first well in mid-January.
Electra is located in Block 5 and could support standalone development. Pegasus is near the Glaucus discovery in Block 10, close to the Cronos find by Eni and TotalEnergies in Block 6.