Project Profile
Location: Blocks 4219-26 & 4218-30, Adriatic Coast of Montenegro
Water depth: 50-100m
Reserves: 1.8 tcf natural gas and 144 million barrels (438 mmboe in total) of unrisked prospective resources
Production start-up: 1Q2018
In October 2017, Energean presented a Competent Persons Report (CPR) by Netherland Sewell & Associates, detailing the recoverable gas and liquids resource estimates in blocks 4218-30 and 4219-26.
Energean is currently the sole operator, with 100% working interest, of offshore blocks 4218-30 and 4219-26.
The CPR is part of the first three-year exploration phase, which entails a mandatory work programme including a 3D seismic survey covering the two blocks that is planned to be acquired in 2018, and geological and geophysical (G&G) studies. The total cost of this initial exploration phase is estimated at US$5m.
Operator(s): Energean Oil & Gas (100%)
Sub-contractor(s): Netherland Sewell & Associates (NSAI) - Competent Persons Report