In April 2020, Energean Oil and Gas announced the completion of an independent resource assessment for the Karish North gas discovery on the I/17 Karish lease offshore Israel. The Competent Person's Report (CPR) was prepared by DeGolyer and MacNaughton (D&M) and is based on the analysis of recently re-processed and recalibrated 3D seismic and the results of the Karish North 1 discovery and the subsequent side-track appraisal wells that were completed in 2019. Gross 2C contingent resources for the Karish North discovery have been estimated at 1.2 Tcfg and 39.4 million barrels of liquids, which equates to a total of around 250 MMboe. The best estimate of Gas Initially In Place (GIIP) now stands at 1.7 Tcf.<P />D&M's assessment represents a significant uplift of 0.3 Tcfg and 5.4 million barrels of liquids (around 60 MMboe) to Energean's previous best estimate of Karish North volumes. The uplift in resource volumes largely results from the new conclusion that the Karish East structure is a part of the Karish North and Karish North-East structures, which were included in Energean's original resource estimates.<P />Karish North resources are classified as contingent ahead of a Final Investment Decision (FID) being taken on the project, which is expected during H2 2020. Once the FID has been taken resource volumes are expected to be reclassified as reserves, to the extent that they are underpinned by Gas Sales and Purchase Agreements (GSPAs).<P />Karish North and I/17 Karish lease are operated by Energean Israel Ltd, a JV consisting of Energean Oil and Gas (70%) and Kerogen Capital (30%).
 Energean Oil and Gas announced the completion of an independent resource assessment for the Karish North gas discovery on the I/17 Karish lease offshore Israel. The Competent Person's Report (CPR) was prepared by DeGolyer and MacNaughton (D&M) and is based on the analysis of recently re-processed and recalibrated 3D seismic and the results of the Karish North 1 discovery and the subsequent side-track appraisal wells that were completed in 2019. Gross 2C contingent resources for the Karish North discovery have been estimated at 1.2 Tcfg and 39.4 million barrels of liquids, which equates to a total of around 250 MMboe. The best estimate of Gas Initially In Place (GIIP) now stands at 1.7 Tcf.<P />D&M's assessment represents a significant uplift of 0.3 Tcfg and 5.4 million barrels of liquids (around 60 MMboe) to Energean's previous best estimate of Karish North volumes. The uplift in resource volumes largely results from the new conclusion that the Karish East structure is a part of the Karish North and Karish North-East structures, which were included in Energean's original resource estimates.<P />Karish North resources are classified as contingent ahead of a Final Investment Decision (FID) being taken on the project, which is expected during H2 2020. 