Cyprus and ExxonMobil discuss development of Glaucus and Pegasus gas fields

President of the Republic of Cyprus Nikos Christodoulides met with ExxonMobil Vice President John Ardill in New York on September 23, 2026, to coordinate the next steps for the Glaucus and Pegasus gas fields located in Block 10 of the Cypriot Exclusive Economic Zone (EEZ). The meeting focused on reviewing the ongoing energy partnership between the Republic of Cyprus and the corporation.

Following the recent declaration that the Glaucus and Pegasus discoveries are commercially viable, both parties emphasized that this status marks a critical milestone for the region. President Christodoulides expressed his satisfaction with ExxonMobil's operations and stressed that the current government priority is the rapid advancement of development plans. The discussions specifically targeted the acceleration of evaluation processes for development options, with the goal of submitting a comprehensive Plan of Development and Production as soon as possible to facilitate a Final Investment Decision.

This meeting serves as a follow-up to the successful exploration phase, signaling a transition toward extraction and commercial exploitation. The administration aims to maintain the current operational momentum to ensure the efficient utilization of natural gas resources, which is expected to bolster regional energy cooperation.