Non-commercial but encouraging findings at 'Elektra-1' well, Energy Ministry says

07:47 - 15 April 2025

Economy Reporter

The presence of natural gas in non-commercial quantities was confirmed by the data collected from the 'Elektra-1' exploration well in Block 5 of the Exclusive Economic Zone (EEZ) of the Republic of Cyprus, the Ministry of Energy, Commerce and Industry announced.

Despite the limited reserves, the preliminary assessment of the results is considered encouraging, confirming the existence of a hydrocarbon system and good quality reservoirs. The drillship 'Valaris DS-9' is now preparing to continue operations in Block 10, at the 'Pegasus-1' target.

The drilling was conducted by the consortium of ExxonMobil Exploration and Production Cyprus (Offshore) Limited (Operator) and QatarEnergy International E&P LLC.

“The well data and preliminary evaluation work indicate the presence of natural gas in non-commercial quantities,” the Ministry said in its statement.

It added that, according to the Operator’s initial assessment, the 'Elektra-1' drilling results are deemed encouraging, confirming the presence of a hydrocarbon system and good quality reservoirs. The information collected during the drilling operations is being evaluated to determine the consortium’s future plans for Block 5.

The 'Valaris DS-9' drillship, which carried out the drilling operations, will now move to Block 10 of the EEZ of Cyprus to conduct exploration drilling at the 'Pegasus-1' well site, on behalf of the consortium of ExxonMobil Exploration and Production Cyprus (Offshore) Limited and QatarEnergy International E&P LLC.

(Source: CNA)

Non-commercial but encouraging findings at 'Elektra-1' well, Energy Ministry says

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