The next 15 months could be make or break for any hopes of discovering large quantities of gas offshore Cyprus beyond 2011’s 5 tcf Aphrodite, which currently looks stranded. Eni and ExxonMobil each plan two wells on their offshore Cyprus permits by end-2018 (see table). In the absence of discoveries, the exploration pipeline looks bare beyond this.

The US major is targeting a ‘Zohr-like’ play offshore Cyprus. “We use our 3D seismic imaging data, recently acquired,...