Energean plc is evaluating development options for a commercial discovery made at the Athena exploration well, offshore Israel. Preliminary analysis shows recoverable gas volumes of 8 bcm (283 bcf, 51 MMboe) on a standalone basis, while the discovery also derisks an additional 50 bcm (1.8 tcf, 321 MMboe) of mean unrisked prospective resources across Energean’s greater Olympus area (total 58 bcm, 372 MMboe including Athena), the company said in a May 9 release. The well has been suspended as a future producer.
The Athena exploration well was drilled on Block 12 (Energean Israel, 100%), about 20 km from Karish and 20 km from Tanin A, in a water depth of 1,769 m. It was drilled in 51 days and came in below the budget of $35 million.
A gross hydrocarbon column of 156 m was encountered in the primary target (A, B, and C sands). Commercial hydrocarbons were not discovered in the deeper secondary target (D sands).
Additional analysis will be undertaken to refine the full resource potential (including volumes within thinner sands between the main reservoir units) and to confirm the liquids content.
The well could be commercialized in the near-term via tie-back to the Energean Power FPSO, or it could form part of a new Olympus area development, the company said. Olympus is Energean’s newly defined area which includes Athena, plus the undrilled prospects on Block 12 and the adjacent Tanin lease.
The Stena IceMAX drilling rig has moved to the Karish Main-04 appraisal well, of which the top hole has already been drilled. The rig will then complete the Karish North development well. A decision on whether to drill the optional wells (Hermes, Hercules) is expected the end of this year’s second quarter.