Last month the Karish North KN-01 development well was drilled, and completion of the second gas sales export riser and second oil train on the FPSO to receive the production remains on track. Karish North should come onstream toward the end of 2023.
Currently the Hermes exploration well is drilling and will be followed by drilling of the Zeus prospect in Block 12 (Olympus Area). Zeus could hold 10 Bcm to 12 Bcm of gas in the A/B/C sands; Energean will use the results to refine its resource estimates across the entire Olympus Area.
Following the Athena discovery in May, the area is thought to contain unrisked prospective resources of 372 MMboe. Options are under review for a standalone tieback to the Energean Power or a dedicated Olympus Area development.
In the Gulf of Suez offshore Egypt, subsea installation activities have finished at Energean’s NEA/NI development with the first well due to spud shortly.
Remaining work includes finalizing modifications to the host Abu Qir platform and tie-in and commissioning of the subsea production systems. First gas from the first well should flow at the end of this year.
The NAQ-PII#6 well is being completed to support production in the Abu Qir concession with four further infill wells planned on the Abu Qir field between 2023 and 2024.
Offshore western Greece, the company expects to deliver first oil from its Epsilon development in first-half 2024, while off Croatia to the north, FEED activities continue for the development of the Irena gas field, with final investment decision targeted for the fourth quarter.