QatarEnergy has signed a commercial discovery declaration covering the Glaucus and Pegasus fields in Block 10 offshore Cyprus, together with the Government of Cyprus and ExxonMobil.
The declaration was signed in Nicosia and marks a step toward the development of offshore resources in Block 10. At the same time, the parties signed a collaboration statement confirming their intention to continue working together on the project and other potential opportunities.
According to the agreement, the parties will coordinate on regulatory engagement, required approvals, and development and production planning as work on the next phase of Block 10 moves forward.
Saad Sherida Al-Kaabi, Minister of State for Energy Affairs and President and CEO of QatarEnergy, said the declaration supports the development of Cyprus’ offshore resources and strengthens regional energy cooperation in the Eastern Mediterranean. He also thanked the Government of Cyprus and strategic partner ExxonMobil for their cooperation on the project.
Separately, QatarEnergy and ExxonMobil reaffirmed their commitment to continued collaboration on the development of Block 10 and on broader potential opportunities.
