A new discovery, the 4th in the sea of Israel, was announced on Monday morning on the London and Tel Aviv stock exchanges by Energean plc. This is the commercially exploitable gas field “Zeus” in Block 12 which is estimated to hold 13.3 billion cubic meters (bcm) of exploitable natural gas, which is greater than the initial estimates of 10 – 12 bcm. Energean is now analyzing the data collected from the well.
In this regard, Mr. Mathios Rigas, CEO of the Energean group, noted that a few days after the start of production from Karish field, Energean is now evaluating a number of potential commercial development options for the Olympus Region. The company expects that in the first half of 2023 a new binding development program will be agreed upon.
Upgrade of the “Athina” deposit
Independent assessor DeGolyer & MacNaughton (D&M) certified Energean with potential reserves of 11.75 bcm in the Athena field, upgrading Energean’s previous estimate of 8 bcm, following studies based on data gathered by during the drilling process.
The discovery of the “Zeus” field and the upgrade of the “Athina” field give Energean greater certainty about the natural gas quantities and marketability of the Olympus Area, and the company is now moving forward with its development plan. Energean is expected to proceed with the final update on the total quantities of the Olympus Area in early 2023, based on the special report (CPR- Competent Persons Report) prepared by D&M.
Drilling now in Block 23
The Stena IceMax drilling rig has now moved to Block 23 in the Sea of Israel, in order to proceed with drilling the “Heracles” structure, targeting natural gas from the Miocene.
στο Google News και μάθετε πρώτοι όλες τις ειδήσειςLatest News
Current Account Deficit Fell by €573.2ml Feb. 2025: BoG
The improvement of Greece’s current account was mainly attributed to a more robust balance of goods and, to a lesser extent, an improved primary income account
Hellenic Food Authority Issues Food Safety Tips for Easter
Food safety tips on how to make sure your lamb has been properly inspected and your eggs stay fresh.
Greek Kiwifruit Exports Smash 200,000-Ton Mark, Setting New Record
According to data by the Association of Greek Fruit, Vegetable and Juice Exporters, Incofruit Hellas, between September 1, 2024, and April 17, 2025, kiwifruit exports increased by 14.2%.
Easter Tourism Boom: Greece Sees 18.3% Surge in Hotel Bookings
Among foreign markets, Israel has emerged as the biggest growth driver, with hotel bookings more than doubling—up 178.5% year-on-year.
Greece to Launch Fast-Track Tender for Offshore Hydrocarbon Exploration
Last week, Papastavrou signed the acceptance of interest for the two Cretan blocks, while similar decisions regarding the two Ionian Sea blocks were signed by his predecessor
American-Hellenic Chamber of Commerce to Open Washington D.C. Branch
AmCham's new office aims aims to deepen U.S.-Greece economic ties and promote investment and innovation between the two countries
Why Greece’s New Maritime Spatial Plan Is a Geopolitical Game-Changer
This landmark development is more than just a bureaucratic step — it's a strategic declaration about how Greece intends to use, protect, and assert control over its seas
Eurozone Inflation Eases to 2.2% in March
Compared to February, inflation decreased in 16 member states, remained unchanged in one, and rose in ten.
Bank of Greece: Primary Gov. Surplus €4.1b Jan.-March 2025
The data released today by the Bank of Greece revealed that the central government’s overall cash balance recorded a surplus of €1.465 billion in the first quarter of 2025, compared to a deficit of €359 million in the corresponding period of 2024.
Greek Government Reissues 10-Year Bond Auction for €200 Million
The amount to be auctioned will be up to 200 million euros, and the settlement date is set for Friday, April 25, 2025 (T+5)
![Πλημμύρες: Σημειώθηκαν σε επίπεδα ρεκόρ στην Ευρώπη το 2024 [γράφημα]](https://www.ot.gr/wp-content/uploads/2025/04/FLOOD_HUNGRY-90x90.jpg)
