Energean says Karish and Tanin Gas Fields Contain 7.5 TCF

Photo Credit: Courtesy: Energean.com

Energean Oil and Gas (LSE: ENOG), the Greek company that owns the Karish and Tanin fields off the coast of Israel said Wednesday that a new geological analysis has found that the fields contain 212 BCM or 7.5 TCF of natural gas, an amount equivalent to 75% of the reserves of the Tamar field.

The analysis, conducted by Netherland Sewell & Associates, is the first assessment of prospective resources in new Blocks (12, 21, 22, 23 and 31) awarded to Energean as part of a recent offshore licencing round.

Mathios Rigas, CEO Energean Oil & Gas, commented: “We are pleased that our independent reserves auditors have identified 7.5 TCF of prospective resource across our Israeli acreage with a very high probability of geological success.”