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Energean Oil and Gas reveals start of well drilling campaign offshore Israel

The Stena DrillMax ship is contracted for at least four wells, with the option for more
oil and gas operations
Drilling is now underway

Energean Oil and Gas PLC (LSE:ENOG) has started development drilling operations in its 2019 Israel well campaign, which will comprise at least four wells, but, could increase to as many as ten.

It initially has a programme of four wells at the Karish North project, which will see the ‘batch drilling’ of their top-sections, enabling significant operational efficiencies and cost savings.

READ: Energean Oil & Gas sets sights on production growth

The wells will be drilled by the contracted Stena DrillMAX drillship, which can operate in deep waters (up to 10,000 feet deep).

Energean last month told investors that it planned to target some 2.3 trillion cubic feet of potential gas resources through the 2019 drill programmes.

First gas is targeted in the first quarter of 2021.

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