Energean’s Hermes exploration well has found 7-15 billion cubic metres of gas, encouraging the company on its other prospects and adding another well slot.
The Stena IceMax drilled Hermes and has now moved to Block 12 to test the Zeus structure.
The rig drilled Hermes in Block 31. Energean described the find as commercial and said the 7-15 bcm was a recoverable resource. It is working on refining its understanding of the find, it said, to inform thinking on Hermes and the surrounding area.
Energean had given a pre-drill estimate of 13-40 bcm for Hermes.
The Hermes find has also cut the risk on the nearby Poseidon and Orpheus structures. Energean said these were “attractive potential future appraisal targets” around Block 31.
The next well, Zeus, is targeting a gross prospective resource of 10-12 bcm. Results from the well will provide insight into the wider Olympus area, which the company said may hold 58 bcm of unrisked recoverable resources.
Energean said it had also added a sixth well to its drilling campaign. It expects to use this to test the Hercules prospect, in Block 23.
The first well of the campaign was Athena, which found 8 bcm of gas and helped derisk the 58 bcm figure for the Olympus area. The second and third wells were on Karish, an appraisal and a development well.
Karish is due to start producing shortly. The field has become contested owing to a dispute between Lebanon and Israel over maritime borders. US-mediated talks are under way in an attempt to find a deal.
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