Israel… the discovery of huge new gas reserves in the Mediterranean

Today, Monday, Energean Energy Group announced the discovery of 13 billion cubic meters of natural gas in the Zeus-1 exploration well off the coast of Israel.

The energy company also confirmed the presence of an additional 3.75 billion cubic meters at the Athens field, according to the Jerusalem Post.

These discoveries confirm the company’s expectations that there are commercially exploitable gas reserves in the Olimp region, located between the Karish and Tanin gas fields.

“A week into production at the Karish field, I am pleased to announce that five wells in our drilling program have come online, bringing power to the entire region,” said CEO Matthews Rigas.

The company is now planning to take advantage of new discoveries and expects to bring new volumes of gas to the market from the Olympus region in early 2023, given the increase in volumes at both Zeus and Athens.

Source: Jerusalem Post.

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