Energean set to start drilling at Zeus well off Israel

Greek oil and gas company Energean is set to begin drilling at the Zeus exploration well offshore Israel.

Stena DrillMAX drillship; Source: Energean (Image is cropped)

Energean said in its trading and exploration update published on Wednesday that the Zeus well would target 0.6 tcf of gas initially in place across three reservoir intervals.

The well is located in Block 12, between Energean’s Karish and Tanin leases. Energean said that a discovery at the Zeus well would be commercialized through the Energean Power FPSO which is currently being built for the development of the Karish and Tanin reservoirs.

According to the company, the Zeus exploration well is expected to cost $35 million gross, and drilling operations will be conducted by the Stena DrillMax drillship following the completion of the three Karish Main development wells.

Energean added that it was assessing options for the remaining five drilling options available under its contract with Stena.

Block 12 was one of five exploration licenses within the Israeli Exclusive Economic Zone (EEZ) awarded to Energean in December 2017. The remaining licenses were Blocks 21, 22, 23, and 31.

All five licenses are located in the proven Tamar sand play fairway, and numerous prospects and leads were identified.

It is also worth reminding that the Stena DrillMax drillship was recently involved in the successful appraisal of the Karish North discovery.

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