ExxonMobil, in partnership with Qatar Energy, has commenced exploratory drilling for natural gas off the coast of Cyprus, indicating Europe's diversification efforts, reported Reuters, citing Cyprus President Nikos Christodoulides’ announcement on X.

ExxonMobil and QatarEnergy started drilling work for natural gas in Block 5 of Cyprus’ exclusive economic zone (EEZ).

Exxon Mobil and Qatar Energy start exploratory drilling for natural gas off the coast of Cyprus, with potential for significant development.

According to S&P Global, estimates suggest that the Electra-1 exploration well is targeting a structure that could hold between 15 Tcf and 30 Tcf of gas. In a post on X, President Nikos Christodoulides of Cyprus announced that drilling began on Friday morning.

ExxonMobil and its partner offshore Cyprus, QatarEnergy, on Friday started drilling for natural gas in an exploration block in the island nation’s exclusive economic zone, the President of Cyprus, Nikos Christodoulides, said. The U.S. supermajor and Qatar’s state energy giant launched drilling activities in Block 5, Christodoulides wrote on X.