AGR Finds Gas at Offshore Israel Well

AGR operated Aphrodite-2 well, off the coast of Israel, has reached a depth of 5,652 meters from sea level and found significant signs of natural gas.

“AGR further stated that 'It is clarified that the production tests have not been performed in the well. The natural gas signs do not evidence an existence of the discovery in its meaning according to PRMS rules or of the discovery in its meaning pursuant to the Petroleum Law,” the company said in a statement.

The rig drilling the Aphrodite-2 well has completed drilling the well and is expected to plug and abandon the well in the upcoming 2 weeks.

The Aphrodite-2 well is the first well in the 'Pelagic licences'. The Aphrodite Prospect was estimated to have the potential for 3.7 TCF of natural gas in contingent and prospective resources, based on a resources report compiled by Texas-based petroleum consultant Ryder Scott in 2012.