Reserves and Resources

Energean started operating with just 2 mmboe 2P reserves in Greece. Eleven years later, Energean has 397 mmboe 2P reserves and 2C resources across four Eastern Mediterranean countries with significant upside potential.


Reserves and Resources, August 2018.png

Energean Israel (the company which owns 100% of the Karish and Tanin Fields and in which Energean owns 70%), has 2.2  TCF of natural gas and 31.8 million barrels of light hydrocarbon liquids 2P reserves, according to a CPR from the independent auditor NSAI, completed in August 2018.

 

Moreover, Energean Israel has 5.4 BCM of natural gas plus 1.0 million barrels of light hydrocarbon liquids 2C resources.

Energean has been consistently increasing oil reserves and resources in the Gulf of Kavala. Developed and undeveloped 2P reserves are now estimated to be 39.5 million barrels of oil and 6 BCF of gas, while contingent oil resources (2C) are estimated at 22.9 million barrels of oil and 5.3 BCF of gas,  according to NSAI's CPR.

The Katakolo offshore block, which entered the exploitation phase in December 2016, has 10.5 mmbls oil 2P reserves, according to NSAI's CPR.