Energean starts four-well drilling program in Israel

Oil and gas producer Energean Oil and Gas has started its 2019 drilling program 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, the company said on Monday.

Energean also said it 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.

To remind, Energean in January 2018 signed a contract with Stena Drilling to deploy the Stena Forth drillship “or such substitute as may be agreed by the parties” to drill three development wells in 1Q 2019 at Energean’s Karish and Tanin gas fields.

Karish North will directly target 1.3 Tcf of gas and 16 million barrels of liquids (gross) with a volume-weighted geological chance of success of 69%.