Eni has announced a ‘significant’ gas discovery in the Cronos-1 well. Eni has announced a “significant” gas discovery in the Cronos-1 well, which was drilled in Block 6, around 100 miles off Cyprus’ coastline in more than 7,500 feet of water depth. Preliminary estimates indicate about 2.5 trillion cubic feet of gas in place, with significant additional upside that will be investigated by a further exploration well in the area, Eni, the operator of the block with a 50 percent interest, noted. “The well has encountered an important gas column in a carbonate reservoir sequence of fair to excellent properties,” Eni said in a company statement. “The intense data acquisition campaign has shown an overall net pay of more than 260 meters [853 feet] with intervals owning excellent permeability. Studies on a fast-track development options are already ongoing,” Eni added in the statement. Eni stated that the gas discovery […]