New gas discovery for Energean in Israel

Hydrocarbon exploration and production company Energean has made a commercial gas discovery in Block 12 offshore Israel, on the border to Lebanon, bolstering its beliefs in the potential of the newly defined Olympus Area.

Back in June 2021, Energean contracted a drilling ship from Stena Drilling for its 2022 – 2023 growth drilling program offshore Israel. The firm also booked Halliburton in September 2021 under an integrated services contract to execute the well drilling and completions.

The beginning of this drilling campaign, targeting the derisking of unrisked prospective recoverable resources of over 1 billion barrels of oil equivalent (boe), was scheduled for March 2022.

The contract award was for the drilling of three firm wells and two optional wells, with the first firm well already completed. The drilling campaign will be undertaken using the Stena IceMAX drillship.

The campaign will include the Karish North development well, the Karish Main-04 appraisal well, the Athena exploration well in Block 12, which is situated directly between the Karish and Tanin leases.