ExxonMobil's Glaucus-1 well unearths another giant in Cyprus

ExxonMobil and its partner Qatar Petroleum have announced a giant gas discovery offshore Cyprus. The Glaucus-1 well was drilled to a depth of 4,200 metres and encountered a gas-bearing reservoir of 133 metres. The well is located in more than 2,000 metres of water. The discovery is estimated to hold between 5 and 8 tcf of gas in place. It will be one of the biggest discoveries of the year, and maintains the East Mediterranean’s position as one of the world’s premier exploration hotspots.