Reserves Comparison
Overview
Announced by ExxonMobil in February 2019 (official GIIP re-estimate after the 2022 appraisal: 3.7 tcf). Together with the 2025 Pegasus discovery in the same block it holds an estimated 7–9 tcf. On 30 June 2026 Cyprus, ExxonMobil and QatarEnergy signed a Declaration of Commercial Discovery for the two fields, moving them into the development phase: Pegasus appraisal drilling from late 2026, then FEED, FID anticipated ~2029 and first gas ~2033. The leading export concept is a subsea pipeline into Egypt's existing LNG infrastructure.
Development Status
Field development plan approved, infrastructure under construction.
Wells
Consortium
Other Discoveries in Block 10
Located in
Technical Data
- Discovery
- 2019
- Water Depth
- 2,063m
- Reserves (Low)
- 3.2 tcf
- Reserves (High)
- 3.7 tcf
- Coordinates
- 33.46°N, 31.71°E
Related News
ExxonMobil’s East Med strategy enters a new phase
The Commerciality Declaration for Cyprus’ Glaucus and Pegasus gas discoveries made this week marks an important milestone – not only for the island, but also for ExxonMobil’s wider Eastern Mediterranean strategy. After almost eight years of exploration, the company has formally moved from proving...
The landscape is changing in Cyprus’ exclusive economic zone
The Republic of Cyprus, ExxonMobil and QatarEnergy recently signed a tradability statement for the Glaucus and Pegasus gas fields. This marks a significant step forward in Cyprus’ energy programme. It is clear evidence — a vote of confidence — in the prospects of Cyprus’ exclusive economic zone, ...
ExxonMobil eyes 2033 production start at Cyprus gas fields
Cyprus, ExxonMobil and QatarEnergy have signed a declaration of commerciality for the Glaucus and Pegasus natural gas fields, moving the discoveries from the exploration phase into development. President Nikos Christodoulides described the move as a “milestone of strategic importance” for Cyprus’...
QatarEnergy, ExxonMobil Declare Cyprus Gas Discoveries Commercial
QatarEnergy, ExxonMobil and the Government of Cyprus have signed a commercial discovery declaration for the Glaucus and Pegasus fields in Block 10 offshore Cyprus…
Cypriot gas fields declared ‘marketable’ by energy giants
Two gas fields located in Cyprus exclusive economic zone (EEZ) were on Tuesday declared “marketable” by multinational energy corporations ExxonMobil and QatarEnergy. Both fields, the ‘Pegasus’ field and the ‘Glaucus’ field, are located in Block 10 of Cyprus’ EEZ, with ExxonMobil and QatarEnergy h...
Key Events
Cyprus, ExxonMobil and QatarEnergy sign a Declaration of Commercial Discovery for the Glaucus and Pegasus fields (Block...
infrastructureExxonMobil announces Cyprus' largest gas discovery to date at Glaucus-1 well in Block 10, with estimated 5-8 Tcf of reco...
discovery