Significant Gas Discovery at Karish North

Energean Oil and Gas plc announced the 15^th April that the Karish North exploration well offshore Israel has made a “significant” gas discovery.

Preliminary analysis of the find indicates initial gas in place estimates of between 1 and 1.5 trillion cubic feet, according to Energean.

The Karish North discovery will be commercialised via a tie-back to the Energean Power FPSO, which is located 3.3 miles from the Karish North well. The FPSO is being built with total processing and export capacity of 775 million cubic feet per day.

Drilling of the initial phase of the Karish North well is complete. Energean said it will now deepen the well to evaluate hydrocarbon potential at the D4 horizon.

“We are delighted to be announcing this significant new gas discovery at Karish North, which further demonstrates the attractiveness of our acreage offshore Israel,” Mathios Rigas, CEO

of Energean, said.

“We are building the Energean Power FPSO with spare capacity, which will enable us to develop both Karish North and future discoveries quickly, safely and economically,” he added.

In a statement posted on his Twitter page, Mr Rigas highlighted that this was the first gas discovery in Israel “after a long time” and stated that Energean is “now a producer, developer and successful explorer in the Med”.

Source: Rigzone