UK firm discovers an extra 13 billion cubic metres of natural gas close to Israeli coast

The company is expected to update international markets on its fresh discoveries in the new year.

Positive news from growth drilling programme. Zeus 13.3bcm commercial #gas discovery. Athena upgrade by 3.75bcm to 11.75bcm. 5 successful wells from 5 in 2022. #energy #ONGT https://t.co/BnNJQiaSSZ pic.twitter.com/GjO9jhdU6q

— Energean (@Energean) November 7, 2022

 

“Following the start of production from our Karish reservoir last week, I am pleased that our drilling programme, which has now delivered five successful wells from five, continues to deliver value, ensuring security of supply and energy competition across the region,” Energean CEO Mathios Rigas announced.  

Energean has also relocated its Stena IceMax drilling rig as it plans to expand exploration at its Northern Mediterranean Hercules drilling site.

 head of last Tuesday's general election there was assurance from Washington, Jerusalem and Beirut that Israel's planned deal to hand over disputed waters containing potentially oil and gas rich areas to Lebanon would go ahead.  

Benjamin Netanyahu, whose right-wing coalition swept to victory last week, has previously complained that the agreement could benefit Hezbollah.