From Discovery
to Production

Developing offshore gas fields is a multi-year process requiring billions in investment. This section explains how Cyprus discoveries will be commercialized, from appraisal drilling through first gas production.

17-18
Tcf Discovered
3
Projects in Development
2028
Earliest First Gas
Cronos, Block 6
$10B+
Est. Investment

Explore Development

Export Options

Compare LNG vs pipeline routes. Egypt, EastMed, and domestic options explained.

Project Economics

Development costs, breakeven prices, and investment returns for Cyprus projects.

Timeline to First Gas

When will Cyprus start producing? Project milestones and FID expectations.

Infrastructure Projects

Pipelines, LNG terminals, and processing facilities under development.

Development Projects

Aphrodite

Block 12 · Operated by Chevron

Development / FEED

Development plan approved Feb 2025 · FEED began Dec 2025 · Egypt 15-year offtake term sheet initialed Apr 2026

Reserves
~2.9-3.7 Tcf (2C)
Target FID
Targeted late 2026-2027
First Gas
~2030-31
Export Route
Pipeline to Egypt (Port Said)

Cronos (Block 6 Phase 1)

Block 6 · Operated by ENI

Development

HGA signed Feb 2025 · Commercial deals Oct 2025 · Development plan approved May 2026 · Zeus and Calypso slotted for a possible phase-2 cluster

Reserves
3.1 Tcf GIIP
Target FID
Imminent
First Gas
2028
Export Route
Egypt (Zohr tie-back → Damietta LNG, ~5 bcm/yr)

Glaucus + Pegasus

Block 10 · Operated by ExxonMobil

Development

Commercial discovery declared 30 Jun 2026 · Pegasus appraisal from late 2026

Reserves
7-9 Tcf (combined)
Target FID
~2029
First Gas
~2033
Export Route
Leaning to pipeline into Egyptian LNG

Updated July 2026 · Sources: MECI, operator announcements

Development Process

1

Discovery

Year 0

Well finds commercial hydrocarbons

2

Appraisal

1-3 years

Delineate size and confirm viability

3

FEED

1-2 years

Front-End Engineering Design

4

FID

Decision point

Final Investment Decision

5

First Gas

3-5 years

Construction and commissioning

Key Development Challenges

Technical

  • Deepwater operations (1,500-2,500m)
  • Long-distance subsea tiebacks
  • No existing offshore infrastructure

Commercial

  • Export route agreements needed
  • Gas pricing and offtake contracts
  • Competition from other gas sources

Go Deeper

Aphrodite Development
Block 12 development plan, FEED and Egypt route
Cronos FID Tracker
Block 6 Phase 1 — first gas targeted 2028
Glaucus & Pegasus Potential
Block 10 — 7-9 Tcf combined resource
Project Economics
Costs, breakeven prices and state take
Export Options
Egypt pipelines, LNG and EastMed compared
Timeline to First Gas
Milestones and FID expectations

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