London-based Energean Oil and Gas introduced the profitable appraisal of the Karish North Discovery, confirming greatest estimate recoverable assets of zero.9 Tcf plus 34 million barrels of sunshine oil / condensate (mixed c.190 mmboe) considerably enhancing Energean’s found useful resource volumes throughout its Karish and Tanin leases. Highlights
• Best estimate Gas Initially In Place (GIIP)1,2 of 1.three Tcf (36 BCM) versus a pre-drill estimate of 1.zero – 1.5 Tcf
• Best estimate recoverable useful resource volumes1,2 of zero.9 Bcf (25 BCM) plus 34 million barrels of sunshine oil / condensate
• Volumes are incremental to the two.four Tcf (68 BCM) and 33 million barrels of sunshine oil / condensate found assets that Energean already has in its Karish and Tanin leases
The Karish North sidetrack was drilled 700m north of the unique Karish North penetration with a key goal to verify the Gas Water Contact (“GWC”). The sidetrack encountered a GWC at four,791 meters true vertical depth subsea (“TVDSS”), 13 meters beneath the Gas Down To (“GDT”) that was encountered within the unique wellbore. A skinny rim of sunshine oil or condensate was recognized instantly above the GWC. The whole mapped hydrocarbon column is confirmed at 310 meters.
The Karish North Discovery might be developed through a tie-back to the Energean Power FPSO, which is positioned 5.4km away. The Stena DrillMax will now transfer to finish the three Karish Main growth wells. Mathios Rigas, Chief Executive of Energean, commented: “This is a superb consequence from the Karish North appraisal sidetrack, confirming in place volumes within the high half of pre-drill estimates and growing our recoverable volumes in Israel by zero.9 Tcf (25 BCM) of gasoline plus 34 million barrels of sunshine oil or condensate. Today’s information delivers upon one other dedication that we had made to our shareholders and the profitable outcomes permit us to proceed our gasoline advertising and marketing efforts within the area with a objective to completely utilise the capability of our eight BCMA FPSO. Our focus now stays on closing the Edison E&P acquisition, in parallel with progressing Karish growth. ”
The Karish subject lies within the Alon C license 32km to the north-east of the Tamar subject in 5,700ft of water.
The subject was found in May 2013 by the Karish discovery nicely, drilled to a depth of 15,800 ft by the Ensco 5006 semi-submersible.
(Source: Energean Oil & Gas)
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