ExxonMobil makes gas discovery offshore Cyprus

ExxonMobil and partner QatarEnergy International have reportedly discovered gas in the Pegasus prospect offshore southern Cyprus.

The Pegaus-1 well was drilled 190 km (118 mi) southwest of Cyprus in 1,921 m (6,302 ft) of water, according to the UK’s The Independent newspaper.

No estimates of volumes were released. However, a statement from the government noted that further assessments are planned in the next few months to assess the results.