Energean makes commercial gas discovery off Israeli coast

Tuesday, May 10, 2022 | Tag Cloud Tags: , , , , ,

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(Worthy News) – Greek oil and gas firm Energean announced on Monday a commercial gas discovery at its Athena exploration well in Israel’s Exclusive Economic Zone.

The London-based E&P (Energy & Production) company said the find, made in its Block 12 license between the Karish and Tanin fields, contains a recoverable gas volume of 8 billion cubic meters (bcm). While significant, the find falls far short of the company’s pre-drilling estimates of 21 bcm, which, according to Reuters, is included in an investor presentation last month.

However, the discovery has “de-risked” the wider Olympus Area, comprising Athena, undrilled prospects in Block 12 and the adjacent Tanin lease, according to the company. [ Source: JNS News (Read More…) ]

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