Energean Oil & Gas PLC Energean commences its drilling campaign in Israel (6771R)
March 04 2019 - 2:01AM
UK Regulatory
TIDMENOG
RNS Number : 6771R
Energean Oil & Gas PLC
04 March 2019
For immediate release
Energean Oil and Gas plc
("Energean" or the "Company")
Energean commences its drilling campaign in Israel
London, 4 March 2019 - Energean Oil and Gas plc (LSE: ENOG,
TASE: ), the oil and gas producer focused on the Mediterranean, is
pleased to announce that it has commenced its 2019 drilling
programme in Israel, which consists of three development wells and
Karish North. Following this four well campaign, Energean has a
further six drilling options available in its contract with Stena
Drilling Ltd ("Stena").
Energean will batch drill the top-hole sections of the wells,
which will allow significant operational efficiencies and cost
savings.
The drilling campaign is being undertaken using the Stena
DrillMAX drillship. The Stena DrillMAX is a sixth generation
drillship capable of drilling in water depths of up to 10,000
feet.
Enquiries
Energean Tel: 07917 608 645
Kate Sloan, Head of IR
Camarco (Financial PR) Tel: 020 3757 4980
Billy Clegg
Georgia Edmonds
Owen Roberts
About Energean Oil & Gas plc
Energean is a London Premium Listed FTSE 250 and Tel Aviv Listed
E&P company with operations offshore Israel, Greece and the
Adriatic. Energean has 349 mmboe of 2P reserves and 48 mmboe of 2C
resources across its portfolio.
In August 2017 the Company received Israeli Governmental
approval for the FDP for its Karish-Tanin gas development project,
where it intends to use an FPSO and produce first gas in 2021.
Energean has already signed contracts for 4.6 bcma of gas sales
into the Israeli domestic market. Future gas sales agreements will
focus on both the growing Israeli domestic market and key export
markets in the region. In Greece, the Company is pursuing an
ongoing investment and development programme to increase production
from its Prinos and Prinos North oil fields and to develop the
Epsilon oil field in the Gulf of Kavala, Northern Greece.
Energean has five exploration licences offshore Israel, and a 25
year exploitation licence for the Katakolo offshore block in
Western Greece and additional exploration potential in its other
licences in Western Greece and Montenegro.
www.energean.com
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END
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