At a Glance
Energean Oil & Gas is an independent E&P company focused on developing resources in the Eastern Mediterranean, where it already holds 9 licences and operates assets with a production track record of more than 36 years.
Energean started its operations by acquiring the Prinos licences, offshore North East Greece in 2007, containing just 2 mmboe of audited 2P reserves at that time. Ten years later, the Company has created a balanced portfolio of production and development assets, totalling 558 mmboe of 2C resources and 41 mmboe of 2P reserves. In addition, the Company is committed to realising the significant growth potential emerging from its development and exploration projects, such as the recently acquired Karish and Tanin fields, offshore Israel.
Israel is the world's most rapidly growing natural gas market with consumption increasing by over 14.5% in 2016, to 9,7 BCM. Energean's flagship development fields, Karish and Tanin contain 2.7 TCF of natural gas (2C) and 41 mmboe of light hydrocarbon liquids (contingent and prospective), totalling 531 mmboe 2C resources in the country.
Energean is also producing from the Prinos and North Prinos oil fields as well as the South Kavala natural gas field, offshore NE Greece and employs 480 dedicated and highly-skilled professionals. Energean has 41 million barrels (2P) reserves and 16.6 million barrels contingent resources (2C) in the Prinos License, Greece, audited by ERC Equipoise.
The proven oil field West Katakolo, offshore Greece, is also estimated by Energean to contain 11 mmboe 2C resources.
In addition, the Company has significant development and exploration potential in the licences held in the Adriatic, Western Greece and Egypt, which provide the basis for future organic growth.