ExxonMobil confirms start of new drilling operations in Cyprus's EEZ for December

ExxonMobil is proceeding with an accelerated schedule for its energy exploration projects in the Cypriot Exclusive Economic Zone (EEZ), specifically within Block 10. During a meeting at the Presidential Palace on November 10, 2026, John Ardill, the company's head of global exploration, confirmed to President Nikos Christodoulides and Minister of Energy Michalis Damianou that the Stena IceMAX drillship will arrive in December 2026 to conduct appraisal drilling and testing at the Pegasus field. This initiative aims to gather critical reservoir data to advance the commercial development of the Glaucus and Pegasus discoveries.

Following these operations, the company plans to conduct additional seismic surveys in early 2027. These steps are essential for finalizing the development and production plan, which is scheduled for submission later in 2027. According to official government statements, the project remains on track, with a final investment decision for the Glaucus and Pegasus fields anticipated by 2029. The ultimate objective of this energy roadmap is to achieve the extraction of the first natural gas by 2033. ExxonMobil’s increased focus on Cyprus follows the earlier declaration of commercial viability for these fields, while the company has simultaneously opted to postpone its drilling program off the coast of Egypt until the second half of 2027.