Page 6 - MEOG Week 45 2022
P. 6
MEOG PRICES & PERFORMANCE MEOG
Energean makes another
East Med discovery
ISRAEL LONDON and Tel Aviv-listed explorer Ener- successful wells from five, continues to deliver
gean this week announced that it had made a value, ensuring security of supply and energy
commercial discovery with its Zeus exploration competition across the region.”
well at Israel’s offshore Block 12 concession. When the Athena discovery was made, Ener-
In a regulatory notice to the London Stock gean spoke of its significance “as it de-risks an
Exchange (LSE), the company said that prelimi- additional 50 bcm of mean unrisked prospec-
nary estimates indicated that the structure con- tive resources across Energean’s Olympus Area”
tains 13.3bn cubic metres of gas. which includes the new find, undrilled prospects
Meanwhile, the company’s reserve audi- in Block 12 and the adjacent Tanin licence area.
tor, DeGolyer & MacNaughton, has upgraded It added that the “economics of gas produced
resources discovered in May at the Athena well and sold from Block 12 are not subject to royal-
in the same block. ties payable to the original sellers of the Karish
The contingent resources estimate for Athena and Tanin leases”, giving the concession’s gas
has now been increased from the preliminary 8 sales an 8% revenue advantage compared to
bcm level to 11.75 bcm. those assets.
The announcements follow the recent start Energean discovered 7-15 bcm with the
of production from the Karish gas field through Hermes well at Block 31. The latest find takes the
the Energean Power floating production, storage company’s total gas discoveries offshore Israel to
and offloading (FPSO) unit. beyond 100 bcm.
Energean’s CEO Mathios Rigas said: “Fol- The Stena IceMax drillship has now been
lowing the start of production from our Karish moved to Block 23 in preparation to drill the
reservoir last week, I am pleased that our drill- Hercules structure, where Energean intends to
ing programme, which has now delivered five target the Miocene gas prospect.
P6 www. NEWSBASE .com Week 45 09•November•2022
