NICOSIA, Feb. 15 (Xinhua) -- Cyprus has confirmed the existence of a large quantity of "high quality natural gas" in the Cronos-2 field operated by the Italian energy company ENI, the energy ministry said on Thursday.
Tests have shown that the gas field has a high production capacity, estimated to exceed 150 million standard cubic feet per day.
ENI has previously estimated the capacity of the gas well at 2.5 trillion cubic feet.
The Cronos-2 field is located 160 km off the southwest coast of Cyprus and lies within Block 6 of the island's exclusive economic zone. It is the third natural gas discovery in Block 6, along with Calypso in 2018 and Zeus in 2022.
The energy ministry said that appraisal drilling has confirmed the lateral extension of the Cronos-1 discovery three km away, revealing a net reservoir thickness of 115 meters.
It added that the ministry, together with ENI and the French TOTAL company consortium, which owns the drilling license, is looking into the optimal exploitation of the gas deposit.
Energy, Commerce and Industry Minister Giorgos Papanastasiou said earlier that gas production from Cronos-2 could start in 2026, or at the latest in early 2027.
Licensed companies have discovered up to five wells in Cyprus's exclusive economic zone, with a total capacity of up to 15 trillion cubic feet of natural gas, paving the way for the country to become a major natural gas supplier in the region.
