QatarEnergy has signed a commercial discovery declaration for the Glaucus and Pegasus fields in Block 10, offshore Cyprus, as well as a collaboration statement, together with the Government of Cyprus and ExxonMobil.

Signed in Nicosia, the declaration represents an important milestone in advancing the development of Cyprus’ offshore resources.

It also reflects the strong and constructive relationship between the parties and their shared commitment to continued collaboration and long-term strategic engagement, encompassing both the development of Block 10 and broader future opportunities. 

Saad Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy, said: “This marks an important step in advancing the development of offshore resources in Cyprus and in reinforcing regional energy cooperation across the Eastern Mediterranean. We would like to convey our thanks to the Government of Cyprus and to our strategic partner ExxonMobil for their support and cooperation, and we look forward to continuing to work closely with them on Block 10 future activities.”

Under the declaration, the parties will work together to advance regulatory engagement and approvals, as well as development and production planning, in support of the next phase of Block 10 activities.

In parallel, QatarEnergy and ExxonMobil reaffirmed their shared commitment to sustained collaboration and alignment across both the development of Block 10 and broader potential opportunities. -OGN/TradeArabia News Service