Nicosia, Cyprus. Cyprus’ plans for further natural gas drilling in blocks 5 and 10 and the prospect of expanding cooperation with ExxonMobil were discussed at the Presidential Palace on Friday.
Meeting at the Presidential Palace
President Nikos Christodoulides met ExxonMobil vice president John Ardill, with discussions focusing on future drilling and cooperation between the Cypriot government and the company.
Christodoulides said gas reserves in the Glaucus and Pegasus deposits of block 10 could amount to between 6 and 9 trillion cubic feet.
Government assessment of recent discoveries
The president commended the government’s cooperation with ExxonMobil and cited the company’s drillings in Cyprus’ exclusive economic zone, which in September 2025 confirmed “sizeable quantities” of natural gas in the Pegasus and Glaucus blocks.
Following the discoveries, Christodoulides said the government intended to accelerate the extraction process to utilise Cyprus’ offshore energy resources as soon as possible to help reduce energy costs.
ExxonMobil operations and next steps
Ardill said Cyprus-based operations have been a success and confirmed the company has no plans to halt them.
He said preparations to proceed with the natural gas extraction and the commercialisation of the quantities gathered in block 10 were underway.
ExxonMobil resumed drilling after a break of more than two and a half years in January 2025. Its first gas extraction works in block 5 remained without success, while the company confirmed natural gas findings of 8 to 9 trillion cubic feet in the Pegasus and Glaucus blocks in September 2025.
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