| Natural Gas: Additional 13 Billion Cubic Meters Discovered Off Israeli Coast

Energean PLC — an international hydrocarbon exploration and production company — has announced a new commercial natural gas discovery of 13 billion cubic meters off the shore of Israel. The discovery is a result of Energean’s exploratory drilling well dubbed Zeus-1. It has also confirmed the presence of an additional 3.75 billion cubic meters at its Athena site. These discoveries have confirmed the company’s suspicions that the so-called “Olympus area,” located between the Karish and Tanin gas fields, holds both voluminous and commercially viable natural gas.
— The Jerusalem Post
 
Quote: “Following the start of production from our Karish reservoir last week, I am pleased that our drilling program, which has now delivered five successful wells from five, continues to deliver value, ensuring the security of supply and energy competition across the region,” said Mathios Rigas, CEO of Energean. “We are evaluating a number of potential commercialization options for the Olympus area that leverage both new and our existing, unique Med-based infrastructure, and we expect to commit to a development concept in 1H 2023,” he said.
— The Jerusalem Post
 
Learn more about natural gas discoveries off the coast of Israel from Wikipedia. ►
 
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Photo: The Washington Institute
 
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