At a Glance

Energean Oil & Gas (LSE:ENOG, TASE:אנאג) is a London-based independent E&P company focused on developing resources in the Eastern Mediterranean, where it  holds 13 licenses and operates assets with a production track record of more than 37 years.



 

Learn more about us

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 had created a balanced portfolio of production and development assets, totaling 1.5 TCF of gas and 73.3 mmboe 2P reserves, and 48.1 mmboe 2C resources. The company employs 385 (excluding sailors, subcontractors etc.) dedicated and highly-skilled professionals

Israel is one of the world's most rapidly growing natural gas market as gas demand increased by an average 15.5% from 2006 to 2016. Consumption increased further to 10.3 BCM in 2017, while according to the Adiri Committeee report (July 2018), consumption will reach 14.1 BCM in 2025 and 25.7 in 2042.  According to updated NSAI's Competent Persons Report (CPR), Energean's flagship development fields, Karish and Tanin contain 2.2 TCF natural gas (2P) reserves and 31.8 mmbls light hydrocarbon liquids (70% net to Energean) plus 0.2 TCF of gas and 1 mmbls light hydrocarbon liquids 2C resources. In total, Karish and Tanin contain 275.4 mmboe net to Energean 2P reserves.

Energean is also producing from the Prinos and North Prinos oil fields as well as the South Kavala natural gas field, offshore NE Greece. According to Netherland Sewell & Associates, Inc.’s (NSAI) Competent Persons Report (CPR), Energean has 39.5 million barrels of oil and 6 BCF of natural gas (2P) reserves and 22.9 million barrels of oil and 5.3 Bcf of gas classified as contingent (2C) resources in the Prinos basin fields in Greece.

The proven oil field West Katakolo, offshore Greece, contains 10.5 mmboe 2P reserves, according to NSAIs CPR.

In addition, the Company has significant exploration potential in the licences held in Israel, the Adriatic, Western Greece, which provide the basis for future organic growth. Based on NSAI's CPRs,  Energean's un-risked prospective recoverable resources are estimated to be 7.1 TCF of gas plus 215 mmbbls of hydrocarbon liquids.