QatarEnergy and ExxonMobil have signed a commercial discovery declaration for the Glaucus and Pegasus natural gas fields in Block 10 offshore Cyprus, marking an important milestone in the appraisal of the Eastern Mediterranean's gas resources.
The declaration confirms that the discoveries have been assessed as commercially viable and paves the way for the partners to advance development planning in consultation with the Government of Cyprus. The Glaucus and Pegasus fields are expected to contribute to the region's growing natural gas portfolio and strengthen the Eastern Mediterranean's role as an emerging gas province.
The development reflects continued exploration success in the Levant Basin, where advances in subsurface imaging, reservoir characterisation and offshore development technologies are supporting the evaluation and commercialisation of new gas resources.
Interested in the East Mediterranean? Read the papers of the Fifth EAGE Eastern Mediterranean Workshop (held in December 2025) on EarthDoc here.
Image: Signing between Qatar Energy and ExxonMobil officials, courtesy of Qatar Energy.
