ExxonMobil exploration well offshore Cyprus deemed a duster

ExxonMobil’s Elektra-1 exploration well offshore Cyprus has concluded without finding commercially viable quantities of natural gas.

The well, located in Block 5 of the Exclusive Economic Zone offshore Cyprus, did contain natural gas, but the quantities were deemed non-commercial. 

ExxonMobil officials had previously described the prospect as promising based on seismic data assessments. The drill was conducted by a consortium of ExxonMobil Exploration and Production Cyprus as operator, and with QatarEnergy International E&P.

The data collected during the drilling operations is now being evaluated to determine the consortium’s future plans in Block 5, according to a statement from the Ministry of Energy, Commerce and Industry.

The Valaris DS-9 drillship is now being redeployed to Block 10 for further exploration at the Pegasus-1 site.