Energean's exploration target in 2019 for its Israeli operations is 2.3 trillion cubic feet of natural gas, according to a trading and operational update unveiled on Thursday by the London-listed company.
By K. Deligiannis
Energean's exploration target in 2019 for its Israeli operations is 2.3 trillion cubic feet of natural gas, according to a trading and operational update unveiled on Thursday by the London-listed company.
The company said the exploitation timetable by its Israeli subsidiary for the Karish and Tanin deposits in Israeli territorial waters is proceeding as planned, with the first quantities of natural gas expected within the first quarter of 2021.
Energean Israel owns 100 percent and is the operator of the Karish and Tanin leases, off the Israeli mainland. According to the company, the fields are evaluated as containing 2.2 TCF of natural gas and another 31.8 million barrels of light hydrocarbon liquids. Overall, the energy company maintains that the deposits contain 78.8 million barrels of "unrisked" prospective resources
Meanwhile, the " first steel cut" for a floating production storage and offloading (FPSO) unit that will be utilized for the deposits will come on Nov. 26, 2018 at a Chinese shipyard.
Energean future sales of natural gas will be mostly focused on the developing Israeli market, as well as "exports to regional markets".
Back in Greek waters, Energean said exploitation of the well-known 1970s-era Prinos deposit, off the northern port city of Kavala and the northern Aegean island of Thasos, will commence with "horizontal" drilling at the Epsilon well within the year.
The entire Energean trading and operational update is found here:
https://www.energean.com/media/2877/20181115-trading-and-operational-update.pdf