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Energy companies TotalEnergies and ENI announced the discovery of significant gas reserves in the Cronos-1 well offshore Cyprus. Naked exploration has confirmed a total net gas production of more than 260 meters, Reuters reports.
TotalEnergies says the discovery confirms a sound exploration strategy focused on discovering resources with low technical cost and low carbon emissions.
According to Kevin McLachlan, Senior Vice President for Exploration at TotalEnergies, new gas fields will improve energy security and can become additional sources of gas supplies to Europe.
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