Energean Makes Commercial Gas Discovery at Zeus; Upgrades Athena Resources

Energean PLC said Monday that the Zeus-01 exploration well has made a commercial gas discovery of 13 billion cubic meters, and that contingent resources at Athena have been upgraded following postwell analysis.

The oil-and-gas company said it is now undertaking postwell analysis of the data collected during drilling at the Zeus exploration well offshore Israel.

Contingent resources of 11.75 billion cubic meters in the Athena discovery have also been certified, an increase of 3.75 billion cubic meters on the preliminary estimate, it said.

"We are evaluating a number of potential commercialization options for the Olympus area that leverage both new and our existing, unique Med-based infrastructure, and we expect to commit to a development concept in 1H 2023," the company said.

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