Thursday, November 10, 2022

Energy minister: Gas exploration starts off southwest Greece - AP NEWS

10.NOV.2022
ELENA BECATOROS

ATHENS, Greece (AP) — Greece’s energy and environment minister says U.S. energy giant ExxonMobil has begun prospecting for natural gas off the coast of southwestern Greece, kicking off a delayed project as Europe seeks alternative energy sources due to the war in Ukraine.

ExxonMobil’s ship is already in operation in the area, Energy and Environment Minister Kostas Skrekas said on state-run ERT television Thursday, just four days after Greece’s prime minister announced the project was to start. The move comes amid heightened tensions with neighboring Turkey, and is a project that has been heavily criticized by environmental groups.

“The ship has begun. At this moment it is laying the cables” which are needed for the sonic waves used in the prospecting, Skrekas said.

“The reserves we speculate exist southwest of Crete and the Peloponnese might be the last hope the mining industry has to find a large reserve ... in the region of southeastern Europe, in our region,” he said. However, he noted, “until we drill and see what is really there, everything is on the level of speculation.”

Monday, November 7, 2022

Growth drilling programme update - ENERGEAN

London, 7 November 2022 - Energean plc (LSE: ENOG, TASE: אנאג (is pleased to announce that i) the Zeus01 exploration well has made a commercial gas discovery of 13 bcm ii) contingent resources at Athena have been upgraded following post-well analysis; and iii) the Stena IceMax drilling rig has moved to block 23 to drill the Hercules structure, the final well in Energean’s 2022 drilling campaign.

Zeus well results

The Zeus exploration well, block 12, offshore Israel, has made a commercial discovery with preliminary estimates indicating that the structure contains 13.3 bcm of recoverable natural gas resources (pre-drill estimate 10 - 12 bcm). Energean is now undertaking post-well analysis of the data collected during drilling.

Athena resource upgrade

Energean’s reserve auditor, DeGolyer & MacNaughton (“D&M”), has certified contingent resources of 11.75 bcm in the Athena discovery, an increase of 3.75 bcm on the Company’s 8 bcm preliminary estimate. This increase follows post well studies undertaken on data collected during the drilling process.