QatarEnergy has signed a commercial discovery declaration for the Glaucus and Pegasus natural gas fields in Block 10, offshore Cyprus, alongside the Government of Cyprus and ExxonMobil, marking a significant milestone in the development of the country’s offshore energy resources.
Agreement with the Government of Cyprus and ExxonMobil advances development of the Glaucus and Pegasus discoveries while strengthening long-term energy cooperation in the Eastern Mediterranean.
The declaration, signed in Nicosia, underscores the parties’ shared commitment to advancing the development of Block 10 while strengthening their long-term strategic partnership. It also reflects the strong and constructive relationship between QatarEnergy, the Government of Cyprus, and ExxonMobil, extending beyond the current project to explore broader future opportunities.
HE Minister of State for Energy Affairs and President and CEO of QatarEnergy, Saad Sherida Al Kaabi, described the agreement as an important step toward unlocking the potential of Cyprus’ offshore gas reserves.
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.
HE Minister of State for Energy Affairs and President and CEO of QatarEnergy, Saad Sherida Al Kaabi
Under the commercial discovery declaration, the parties will work together to advance regulatory engagement, secure the necessary approvals, and progress development and production planning for the next phase of activities in Block 10.
In parallel, QatarEnergy and ExxonMobil signed a collaboration statement reaffirming their commitment to continued alignment and cooperation, both in the development of Block 10 and in pursuing broader strategic opportunities in the energy sector.
The agreement further reinforces QatarEnergy’s growing international portfolio and highlights the strategic importance of the Eastern Mediterranean as an emerging global energy hub.