QatarEnergy, ExxonMobil and the Government of Cyprus have signed a commercial discovery declaration for the Glaucus and Pegasus fields in Block 10 offshore Cyprus, marking a step forward in the development of the country's offshore gas resources.
The declaration, signed in Nicosia, was accompanied by a collaboration statement between the parties covering the development of Block 10 and broader future opportunities.
QatarEnergy said the agreement reflects the strong relationship between the parties and their shared commitment to continued collaboration and long-term strategic engagement.
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 activities in Block 10.
"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," said Saad Sherida Al-Kaabi, Qatar's Minister of State for Energy Affairs and President and CEO of QatarEnergy.
QatarEnergy and ExxonMobil also reaffirmed their shared commitment to sustained collaboration and alignment on both the development of Block 10 and broader potential opportunities, according to the statement.