Energy Minister visits “Valaris DS-9” drillship in block 10 (video)

08:13 - 11 July 2025

Current Affairs

Minister of Energy, Commerce and Industry George Papanastasiou visited the “Valaris DS-9” drillship, where he was informed about the new natural gas discovery in Cyprus’ Exclusive Economic Zone (EEZ), in the “Pegasus-1” well within offshore Block 10.

According to a statement from the Ministry, the drilling, carried out by the ExxonMobil Exploration and Production Cyprus (Offshore) Limited (Operator) and QatarEnergy International E&P LLC, consortium, was carried out approximately 190 kilometers southwest of the coast of Cyprus at a water depth of 1,921 meters. It indicated approximately 350 metres of a gas-bearing reservoir “with high quality characteristics”.

This new discovery in the “Pegasus-1” well, the second in Block 10 after the discovery in the “Glaucus-1” well, “confirms Cyprus’ energy potential” and further strengthens the country’s strategy as regards the exploitation of its natural resources, the Ministry said.

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