Energean ups estimates for Israeli reserves, resources

Greek oil and gas firm Energean on Thursday raised estimates regarding the gross recoverable prospective resources in its Israeli portfolio to 212 billion cubic meters of gas and 101 million barrels of liquids, based on the findings of an updated independent Competent Persons Report by Netherland Sewell & Associates.

The company said the findings ‘are consistent with Energean’s view that its acreage contains an attractive number of near-field prospects where potential discoveries can be quickly and economically monetized.’

It is the first report assessing the potential of sea blocks 12, 21, 22, 23 and 31, bought in December 2017.