Energean reports offshore Israeli gas find
London-listed Energean reported on May 9 a commercial gas discovery at the Athena exploration well off the coast of Israel.
The find was made at Block 12, 20 km from Energean's flagship Karish gas field, and contains 8bn m3 of recoverable gas, according to preliminary analysis. It comprised a 156-m gross hydrocarbon column, encountered in A, B and C sands, Energean said.
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The company noted that the discovery helped de-risk a further 50bn m3 of unrisked prospective resources across Energean's Olympus Area, which includes undrilled prospects at Block 12 and the adjacent Tanin lease. Further analysis will be carried out to understand the discovery's resource potential better, and confirm the find's liquid content.
"We are considering a range of strategic commercialisation options both for a standalone and wider Olympus Area development, including domestic and multiple export routes," Energean CEO Mathios Rigas said in a statement. "The discovery and the broader de-risking of a number of prospects in the Olympus Area reaffirms the role of the East Mediterranean as a global gas exploration hotspot."