The Cypriot Ministry of Energy, Commerce and Industry has announced the successful completion of the assessment drilling operations for Cronos-2 within Block 6 of the exclusive economic zone (EEZ) of the Republic of Cyprus. This project was undertaken by the joint venture of Eni Cyprus Limited (operator) and TotalEnergies EP Cyprus BV.
Cronos represents the third discovery of a natural gas reservoir in Block 6 of the Cypriot EEZ, along with Calypso (2018) and Zeus (2022)
The Energy and Water Regulatory Commission (EWRC) has approved a substantial 8.4% reduction in the price of natural gas for February, setting it at BGN 71.08 per megawatt-hour (MWh). This significant drop from January's approved price of BGN 77.60 MWh is poised to bring tangible benefits to Bulgarian consumers.
Work is underway for natural gas discoveries, and there could be more gas finds in the Black Sea, Energy Minister Alparslan Bayraktar has said.
Daily gas production in the Black Sea field is currently at 2.2 million cubic meters but will increase to 40 million cubic meters, the minister said in an interview on broadcaster CNN Türk.