The American Energy Company Exxon Mobil announced that after a series of exploratory drillings, they have discovered large quantities of natural gas off the coast of Cyprus. The quantities of natural gas discovered range from 5 to 8 trillion square feet.
The discovery was made at the well named ”Glaucus 1,” which is located inside the boundaries of Cyprus’ Block number 10 in the Republic’s Exclusive Economic Zone. According to media reports, the discovery is the largest so far in Cyprus.
“It is an amazing development for all of Cyprus. In the coming months, the amount of natural gas will be more accurately estimated,” Cyprus Energy Minister George Lakkotropis said at a press conference in Nicosia.
Turkey also claims it has rights to energy exploration off the coast of the island. Ankara has warned international firms against exploration in the disputed waters, where Turkey backs a breakaway proto-state in the northern third of the island.