Cyprus Confirms New Natural Gas Discovery by ExxonMobil, Estimated to Contain 3.2 Trillion Cubic Feet of Recoverable Gas

The Cypriot government has confirmed a new natural gas discovery by ExxonMobil within the country's exclusive economic zone, marking another step in Cyprus' energy development strategy. According to Cypriot Energy Minister George Papanastasiou, the new find is described as "another good gas field," with the potential to significantly add to Cyprus' estimated offshore natural gas reserves. Local industry analysts estimate that the newly discovered field could contain up to 3.2 trillion cubic feet of recoverable natural gas, although final estimates will depend on the geological characteristics of the reservoir.

Key Takeaways:

• The Cypriot government has confirmed a new natural gas discovery by ExxonMobil, with a 350-meter gas column identified during drilling operations.
• Additional assessments will be conducted in the coming months to determine the field's potential and capacity.
• Local industry analysts estimate that the newly discovered field could contain up to 3.2 trillion cubic feet of recoverable natural gas.
• The new discovery is located near a previously identified gas field also operated by ExxonMobil, which contains a 133-meter gas column.
• The new field's addition to Cyprus' estimated offshore natural gas reserves could be significant, currently standing at approximately 17 to 18 trillion cubic feet from five confirmed fields.
• Consultations are ongoing regarding the transportation of gas from this and neighboring fields to existing infrastructure in Egypt, with plans for eventual liquefaction at plants near Alexandria.
• The Cypriot government emphasizes the importance of this discovery in the country's energy development strategy, expressing optimism over the country's growing offshore energy resources.

Statistics:

• 350-meter gas column identified during drilling operations by ExxonMobil.
• Estimated 3.2 trillion cubic feet of recoverable natural gas in the newly discovered field.
• 133-meter gas column in the nearby ExxonMobil-operated gas field.
• Cyprus' estimated offshore natural gas reserves: approximately 17 to 18 trillion cubic feet from five confirmed fields.
• Cypriot Energy Minister George Papanastasiou expresses optimism over the country's growing offshore energy resources, citing the new discovery as "another good gas field."

Sources:

• Xinhua via COMTEX, "Cyprus confirms new natural gas discovery by ExxonMobil", July 8, 2025.
• COMTEX, "Cyprus confirms new natural gas discovery by ExxonMobil", July 8, 2025.