What has been published about the volume
documents first, newest first — these do not all agree- 3.7 TcfGas in placeDocument2022Glaucus alone, the ministry’s best estimate after the Glaucus-2 appraisal wellStated in Cyprus MECI Hydrocarbons Serviceprimary
- 5–8 tcfGas in placeDocument2019-02-28Glaucus-1 alone, on preliminary interpretation of the well data, before any appraisal wellStated in ExxonMobil, Glaucus-1 discovery releaseprimary
- ~7 tcfAs reportedRelayed remark2026-04-03Glaucus and Pegasus combinedRelayed by Cyprus energy minister Michalis Damianos, press conference — Cyprus Mail
- 8–9 tcfAs reportedRelayed remark2025-09-25Glaucus and Pegasus combined. The report says "ExxonMobil officials told President Nikos Christodoulides" that the blocks "may contain as much as 8-9 trillion cubic feet", and names vice president John Ardill as heading the delegation — so the figure is the company’s and attributing the sentence to him personally would be an inferenceRelayed by ExxonMobil, to the President of Cyprus in New York — relayed by the President and the energy minister, via the Cyprus Mail
None of these is a published figure for this field, so this site states none.
How this figure compares
bars are quoted figures — the categories beside them are not interchangeable† marks a published resource figure — the panel at the top of this page and the rows above — with no primary source on file. It covers those figures and nothing else. Every other number on this page — in the prose, the milestones, the development notes and the answers — is outside it, and many of those have no source recorded at all and carry no mark either, so the absence of a mark says nothing about them. Where a field has no published figure, the absence is explained in the text and cannot be marked.
A 2C contingent resource, a gas-in-place figure and a two-field hub estimate measure different things and are never summed here. What each category means →
Overview
Discovered by ExxonMobil and QatarEnergy in Block 10, announced 7 July 2025 (drilled by the Valaris DS-9, ~350 m gas column, 1,921 m water depth). Not yet officially quantified on its own; both fields were declared a commercial discovery on 30 June 2026. An appraisal rig is under contract with delivery expected around December 2026, and appraisal drilling is the critical path to FEED.
Development Status
Field development plan approved, infrastructure under construction.
Ownership
Project Timeline
Export Route
Developed jointly with Glaucus as the Block 10 hub; export concept to be fixed at FID, with LNG the leading option.
Frequently Asked Questions
What did ExxonMobil discover in Cyprus?
ExxonMobil made two gas discoveries in Block 10 of the Cyprus EEZ: Glaucus (2019) and Pegasus (March 2025). No document states a figure for Pegasus, and none states one for the two combined: the ministry publishes 3.7 Tcf of gas in place for Glaucus alone, and the combined figures of around 7 and of 8–9 tcf come from spoken remarks relayed by the press. On 30 June 2026 Cyprus, ExxonMobil and QatarEnergy signed a Declaration of Commercial Discovery moving both fields into development, with appraisal drilling from late 2026 and production targeted near 2033.
When will Pegasus be developed?
Appraisal drilling starts in late 2026, the final investment decision is anticipated around 2029, and production is targeted near 2033 as part of the joint Glaucus–Pegasus Block 10 hub.
Wells
Consortium
Other Discoveries in Block 10
Located in
Technical Data
- Discovery
- 2025
- Water Depth
- 1,921m
- Resource
- — No figure published
- Coordinates
- 33.44°N, 31.65°E
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Key Events
Cyprus, ExxonMobil and QatarEnergy sign a Declaration of Commercial Discovery for the Glaucus and Pegasus fields in Bloc...
infrastructureExxonMobil and QatarEnergy announce the Pegasus-1 discovery in Block 10, drilled by the Valaris DS-9. Together with the...
discovery