On 15 April 2019, Energean Oil & Gas PLC announced that it had made a âsignificantâ gas discovery at the Karish North 1 exploration well in the Karish (I/7) lease. The well has been drilled to a TD of 4,880 m and encountered high quality reservoir in the B and C sands with a gross hydrocarbon column of up to 249 m. Energean has made initial gas in place estimates of between 1 Bcf and 1.5 Bcf. The well will now be deepened to evaluate the D4 horizon. Karish North 1 was spudded on 15 March 2019 and has expected gross drilling costs of USD 25 million. It is being drilled by the âStena DrillMAXâ drillship which is also batch drilling three development wells at the field. Energean also has the option to drill six additional wells under its contract with Stena. Once completed, Karish North 1 will be tied back to the Energean FPSO at the Karish field. An Independent Competent Persons Report submitted by Netherland Sewell & Associates, Inc. in January 2018 estimated gross recoverable unrisked prospective resources of 1.3 Tcfg (33.5 Bcm) and 16 MMb light oil for the Karish North prospect.     On 22 March 2018, Energeanâs Board of Directors approved the Final Investment Decision to proceed with the Karish and Tanin field development project, located in the offshore Tanin (I/16) and Karish (I/17) leases on 22 March 2018. On 29 January 2018, Energean announced that it had signed a drilling contract with Stena Drilling to undertake a development drilling programme at the Karish field. The main development of Karish will entail the drilling of three development wells and installation of a Floating Production, Storage and Offloading (FPSO) unit. Total estimated capex for development is USD 1.3 to 1.5 billion. First gas from the field is expected in 2021.     Energean completed the acquisition of the Tanin (I/16) and Karish (I/17) leases on 22 December 2016. Energean, through subsidiary Energean Israel, is now 100% owner and operator of both leases. Each of the Tanin (I/16) and Karish (I/17) leases covers an area of 250 sq km and is valid for an initial 30 year period from 11 August 2014 until 10 August 2044 with the potential for extension.
Israel, Tanin (I/16)