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Significant reserves increase for Energean’s Israeli assets
Energean reports that an independent review has certified 2P (proven plus probable) reserves in the Israeli Karish, Karish North and Tanin fields at 98.2bn cm (3.5tn cf) of gas and 99.6mn barrels of liquids (gross).
The company’s gross 2P reserves in Israel now total approximately 729mn boe, which represents a 44% uplift to previous estimates.
The increase was principally driven by the upgrade of resources following approval of the Karish North field development plan by the Israeli government in August 2020. A final investment decision for the field is expected in 4Q2020.
The review has also led to a 21.4% (17.5mn barrels) increase in gross 2P liquid volumes and the fields are now expected to average 28,000 b/d liquid production over a plateau period of approximately five years. The additional liquids production is expected to have no discernible impact on the Scope 1 and Scope 2 carbon intensity of the fields, which is expected to remain at approximately 6 kgCO2/boe, significantly lower than the E&P global average of 18 kgCO2/boe), according to Energean.
News Item details
Journal title: Petroleum Review
Countries: Israel -
Subjects: Oil and gas, Exploration and production
