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NATURAL RESOURCES

Eni confirms the extension and excellent well deliverability of Cronos gas discovery offshore Cyprus

San Donato Milanese (Milan), 15 February 2024 – Eni announces the successful completion of the Cronos-2 well, drilled to appraise the Cronos discovery in Block 6, offshore Cyprus, in August 2022. The production test allowed for the estimation of a well production capacity in excess of 150 MMSCFD in production configuration and is instrumental in progressing with the studies to select the best fast-track development option.

Cronos-2 was drilled to confirm the lateral extension of the Cronos gas discovery (with Cronos 1 exploration well), located some 3 km away, and to assess the reservoir characteristics by performing a production test. The well has encountered the same carbonate reservoir sequence as Cronos-1, confirming hydraulic communication and connected thick gas column with excellent permeability intervals.

Together with an extensive data acquisition, Cronos-2 underwent a full and prolonged production test that proved the excellent gas deliverability capacity of the discovery.

Cronos-2 is the fourth well drilled by Eni in Block 6, following the gas discoveries of Calypso in 2018 and of Cronos and Zeus in 2022. Drilling Cronos-2 shortly after the discovery of Cronos confirms the commitment of Eni and its partner TotalEnergies, to progress swiftly towards the selection of the most suitable and economically viable development solution, which will contribute to the supply of gas to Europe and the region.

Eni has been present in Cyprus since 2013. Block 6 is operated by Eni holding 50% interest, with TotalEnergies as partner. Eni also operates Blocks 2, 3, 8, and 9, and has participating interests in Blocks 7 and 11 operated by TotalEnergies.

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