Energean has made a commercial discovery at its Zeus exploration well off the coast of Israel and upgraded its neighboring Athena discovery.
Athena could be linked to the floating production and storage vessel (FPSO) Energean uses to send gas to the Israeli market from its flagship Karish field.
Energean has also floated the idea of a new development of fields in what it calls the Olympus area, which might also send gas to Egypt. The company said it expects to be able to tell investors more about its development plans early next year.
Preliminary estimates indicate that Zeus holds 13.3 billion cubic meters (bcm) of gas, just above pre-drill estimates, but Energean is still analyzing results.
Source: Reuters
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