Eni SpA has accomplished drilling its Cronos-2 effectively, aiming to appraise the Cronos discovery in Block 6 offshore Cyprus.
The manufacturing check allowed for the estimation of a effectively manufacturing capability in extra of 150 million customary cubic ft per day (MMscfpd) in manufacturing configuration and “is instrumental in progressing with the research to pick out the most effective fast-track growth possibility”, Eni mentioned in a information launch Thursday.
Cronos-2 was drilled to substantiate the lateral extension of the Cronos gasoline discovery, together with the Cronos-1 exploration effectively, positioned round 1.86 miles (three kilometers) away, in addition to to evaluate reservoir traits by performing a manufacturing check, Eni mentioned.
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The corporate famous that the effectively encountered the identical carbonate reservoir sequence as Cronos-1, confirming hydraulic communication and a linked thick gasoline column with wonderful permeability intervals.
Along with intensive information acquisition, Cronos-2 underwent a full and extended manufacturing check that proved the wonderful gasoline deliverability capability of the invention, Eni mentioned.
Eni in August 2022 introduced a major gasoline discovery within the Cronos-1 effectively, which was drilled in Block 6, round 100 miles off Cyprus’ shoreline in additional than 7,500 ft of water depth. Preliminary estimates indicated about 2.5 trillion cubic ft of gasoline in place, with important further upside.
Cronos-2 is the fourth effectively drilled by Eni in Block 6, following the gasoline discoveries of Calypso in 2018 and of Cronos and Zeus in 2022.
The corporate has been current in Cyprus since 2013. Block 6 is operated by Eni, which holds a 50 p.c curiosity, and with TotalEnergies as a companion. Eni additionally operates Blocks 2, 3, 8, and 9, and has taking part pursuits in Blocks 7 and 11, that are operated by TotalEnergies.
In keeping with an earlier report from the European Fee, Cyprus in 2022 was the EU nation with the second-largest share of fossil fuels in nationwide vitality demand at 89.3 p.c. Malta was prime at 96.1 p.c, whereas the Netherlands was third at 87.6 p.c.
Sweden and Finland had been the one EU states that had shares beneath 50 p.c at 30.4 p.c and 38.3 p.c, respectively. Many of the different EU nations had shares between 50 p.c and 85 p.c, in response to the report.
Earlier within the month, Eni closed the acquisition of Neptune Power Group Restricted, encompassing its whole portfolio aside from its Norway and Germany operations. The acquisition permits Eni to combine “a high-quality and low carbon-intensity portfolio with distinctive geographic and operational complementarity to its personal”, the corporate mentioned in an earlier assertion.
The acquired property embody Neptune’s participation within the Eni-operated Geng North-1 gasoline discovery offshore Indonesia, which was introduced in October 2023.
The acquisition is strategic by way of elevated gasoline manufacturing in North Africa and Northern Europe, the place the transaction opens up new carbon seize and storage (CCS) alternatives, Eni mentioned. The corporate mentioned CCS is a key lever in its decarbonization technique and famous that there are additional attainable synergies with the initiatives Neptune is pursuing in Norway and the Netherlands.
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