Energean increases acreage offshore Israel

Licenses 55, 56, 61, and 62 are in Zone D offshore Israel.
Licenses 55, 56, 61, and 62 are in Zone D offshore Israel.
Energean Oil & Gas

Offshore staff

ATHENS, Greece – Israel’s Petroleum Council has awarded Energean Oil and Gas plc four new licenses in the country’s Exclusive Economic Zone.

Energean submitted its proposal in partnership with Israeli Opportunity (20%).

Located 45 km (28) offshore in block D, licenses 55, 56, 61, and 62 (Zone D) were offered in Israel’s second bid round.

Energean has identified a prospect within Zone D analogous to the Tamar Sand fields including Karish, Tamar, and Leviathan. The company said the prospect is believed to extend toward the southwest of the license contingent to further seismic processing. A relatively shallow Mesozoic prospect was also identified (four-way closure).

CEO Mathios Rigas said: “Energean has proven its ability and commitment to explore and develop resources in a timely and cost-efficient manner in the East Med. The addition of the four new licenses contained in Zone D adds further upside potential to our portfolio.”

07/31/2019

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