Greece’s Energean Oil and Gas announced on March 4 that it has commenced its 2019 drilling programme in Israel, which will consist of three development wells and Karish North.
Following this four well campaign, Energean has a further six drilling options available in its contract with Stena Drilling.
Energean, which is a hydrocarbons producer focused on the Mediterranean and has operations offshore Israel, Greece and the Adriatic, said the company would batch drill the top-hole sections of the wells, which will allow significant operational efficiencies and cost savings.
The drilling campaign is being undertaken using the Stena DrillMAX drillship. The Stena DrillMAXis a sixth generation drillship capable of drilling in water depths of up to 10,000 feet.
Energean has 349 million barrels of oil equivalent (mmboe) of 2P reserves and 48 mmboe of 2C resources across its portfolio.
In August 2017, Energean received Israeli Governmental approval for the FDP for its Karish-Tanin gas development project, where it intends to use an FPSO and produce first gas in 2021.
Energean has already signed contracts for 4.6 billion cubic metres per annum of gas sales into the Israeli domestic market. Future gas sales agreements will focus on both the growing Israeli domestic market and key export markets in the region.