Reserves and Resources
Energean started operating with just 2 mmboe 2P reserves in Greece. Now, Energean's current portfolio across four Eastern Mediterranean countries is estimated to contain 558 mmboe 2C resources and 41 million 2P reserves with significant upside potential.
The Karish and Tanin fields have 2.7 TCF of natural gas (2C resources) and 41 million barrels of light oil (contingent and prospective resources), circa 531 million barrels of oil (2C) equivalent.
Energean has been consistently increasing oil reserves and resources in the Gulf of Kavala. Developed and undeveloped 2P reserves are now estimated to be 41.5 mmstb, while contingent oil resources (2C) are estimated at 16.6 mmstb, according to a CPR from the independent auditor ERC Equipoise Ltd, completed in December 2016.
Energean estimates that the West Katakolo offshore block, which entered the exploitation phase in December 2016, has 10.5 million of recoverable 2C resources.