Petroleum Africa
Find us on: 
Tuesday, May 10, 2022
Energean plc announced that a commercial gas discovery has been made by the Athena exploration well offshore Israel, in Block 12, in the A, B and C sands. Preliminary analysis indicates that the Athena discovery contains recoverable gas volumes of 8 bcm (283 bcf / (51 mmboe) on a standalone basis.
The Athena exploration well was drilled on Block 12 (Energean Israel, 100%), located 20 km from Karish and 20 km from Tanin A, in a water depth of 1,769 meters. It was drilled in 51 days and came in below the budget of $35 million. The Athena exploration well is the fifth well in a row that has been drilled successfully by Energean in Israel.
A gross hydrocarbon column of 156 meters was encountered in the primary target (the A, B and C sands). Preliminary analysis indicates that the Athena discovery contains recoverable gas volumes of 8 bcm (283 bcf / (51 mmboe) on a standalone basis. Additional analysis will now be undertaken to further refine the full resource potential (including volumes contained within thinner sands between the main reservoir units) and to confirm the liquids content of the discovery. The Athena well has been suspended as a future production well.
This discovery is particularly significant as it de-risks an additional 50 bcm (1.8 tcf / (321 mmboe) of mean unrisked prospective resources across Energean’s Olympus Area (total 58 bcm/372mmboe including Athena).
The Olympus Area is Energean’s newly defined area which includes Athena, plus the undrilled prospects on Block 12 and the adjacent Tanin Lease.
Athena can be commercialized in the near-term via tie-back to the Energean Power FPSO, enhancing the profitability of the Karish-Tanin development. Alternatively, it could form part of a new Olympus Area development.
Mathios Rigas, Chief Executive of Energean, commented: “We are delighted to announce this new gas discovery at Athena and the potential of the wider Olympus Area. We are considering a range of strategic commercialization options both for a standalone and wider Olympus Area development, including domestic and multiple export routes.
“This discovery and the broader de-risking of a number of prospects in the Olympus Area reaffirms the role of the East Mediterranean as a global gas exploration hotspot. It strengthens our commitment to provide competition and security of supply to the region, enables the optimization of our Israel portfolio and fulfils one of our key milestones for 2022.”
" alt="World Heading for 3-degree C Warming Trajectory, as Political Headwinds Slow the Energy Transition">
" alt="VAALCO Energy Publishes its 2023 Sustainability Report">
" alt="Sound Energy Gets Extra Time on Morocco’s Anoual Exploration Permits">
" alt="Exxonmobil and NBA Africa Launch Jr. National Basketball Association League in Mozambique">
" alt="Africa Finance Corp Invests $14.1 Million in Developing Xlinks’ Morocco-UK Power Project">
" alt="Aminex Bags New Funding Facility">
" alt="BW Energy Announces $150 Million Sale & Leaseback of Mabomo Production Facility">
