Energean reports sixth gas field discovery

Energean informed the London and Tel Aviv stock exchanges on Thursday about its sixth natural gas field discovery in the Eastern Mediterranean, in Egypt.

The initial estimate is that the new discovery contains 87-129 billion cubic feet of natural gas and is scheduled to come into production during the third quarter of the year.

It is recalled that Energean in 2019 discovered the Karish North field in the sea off Israel, which has been in production since February.

During 2022 it discovered four more deposits, with the first two recognized as part of the Katlan discovery by the Israeli government, which has also given its approval for the first development phase. The Katlan deposit can also be used for export purposes.