Energean unveils plans for Israeli gas exploration
Energean announced on Thursday that by September 2023 it will submit a comprehensive program for the exploitation of the deposits of the “Olympus Area” of the Israeli exclusive economic zone to the Israeli government for approval, so as to begin its implementation in early 2024.
Moreover, a map published by the Greek company shows for the first time the planned pipeline, which will connect the Israeli deposits with the liquefaction station that is to be built in Vassiliko, Cyprus, in the context of the discussions held during the recent meeting between Cyprus President Nikos Christodoulides and Israeli Prime Minister Benjamin Netanyahu.
Energean’s regular quarterly update to the London and Tel Aviv stock exchanges on Thursday referred to its business activity in the Israeli EEZ by citing data on the number of deposits it exploited in 2022 in the Olympus Area, in which it discovered confirmed reserves of 31 billion cubic meters of natural gas.
In addition, in the framework of its 2022 exploratory drilling program in the same area, it achieved de-risking for another 38 billion cubic meters.
