Greece’s Energean Oil and Gas announced on 4 November the successful appraisal of the Karish North Discovery, confirming best estimate recoverable resources of 25 billion cubic metres plus 34 million barrels of light oil / condensate1,2 significantly enhancing Energean’s discovered resource volumes across its Karish and Tanin leases offshore Israel.

“This is an excellent result from the Karish North appraisal sidetrack, confirming in place volumes in the top half of pre-drill estimates and increasing our recoverable volumes in Israel by 0.9 Tcf (25 BCM) of gas plus 34 million barrels of light oil or condensate,” Energean CEO Mathios Rigas said. Today’s news delivers upon another commitment that we had made to our shareholders and the successful results allow us to continue our gas marketing efforts in the region with a goal to fully utilise the capacity of our 8 BCMA FPSO. Our focus now remains on closing the Edison E&P acquisition, in parallel with progressing Karish development,” he added.

The Stena DrillMax will now move to complete the three Karish Main development wells.