Offshore staff
ATHENS, Greece – Energean Oil and Gas plc has issued results of a Competent Persons Report by DeGolyer and MacNaughton (D&M) on its Karish North field offshore Israel.
The review estimates 2C resources at 1.2 tcf of gas and 39 MMbbl of liquids, or 250 MMboe in total, 32% higher than Energean’s previous assessment.
Total 2P + 2C resources across the Karish, Tanin, and Karish North fields are now estimated at close to 3.5 tcf of gas and 82 MMbbl of liquids, a total of 698 MMboe.
To date the company has secured gas sales agreements that should deliver around 5.6 bcm/yr at peak, while the FPSO’s capacity is 8 bcm/yr.
The company has submitted an addendum to its field development plan for Karish and Tanin that also covers Karish North, envisaging a production capacity of up to 300 MMcf/d, initially from one well.
It expects to take a final investment decision on Karish North in the second half of this year, with first gas following in 2022.
D&M’s estimates are based on the results of the Karish North exploration and appraisal campaigns completed in 2019, and analysis of recently re-processed and recalibrated 3D seismic.
Energean agrees with the consultants that Karish North, Karish North-East and Karish East form one structure.
04/09/2020
