Updates on the Pegasus 1 Reservoir in Cyprus's Exclusive Economic Zone
July 8, 2025
The new natural gas discovery in Cyprus's exclusive economic zone at the Pegasus 1 site is promising, but the quantities remain unclear. ExxonMobil did not provide an estimate of the reservoir volume due to geological data uncertainty. Although there is a clean gas column of 350 meters, more information on the reservoir's area is needed. President Christodoulides acknowledged Cyprus's energy potential after a teleconference with ExxonMobil.