Zion Oil & Gas begins recompletion operations onshore Israel despite “unprecedented” geopolitical challenges
(WO) – Zion Oil & Gas, Inc. announced the start of recompletion operations for the MJ-01 well in Israel.
Operations have commenced. Amidst the ongoing conflict in Israel, the well has remained safe and is ready for operations, Zion reported. Thus far, there have not been any security concerns at the location and the project has not been significantly delayed despite unprecedented challenges.
The operations have, however, faced some logistical challenges due to the war; the biggest being the unexpected embargo that Turkey placed on trade with Israel. In early May, after Zion had commercially contracted services, equipment, and material from Turkey, the Turkish government announced that no equipment or material would be allowed to leave Turkey destined for Israeli ports. Consequently, the operations team was required to find alternate vendors and contractors on short notice to move forward.
Zion was able to secure contractual services from vendors located in Romania, Greece, and the United States with minimal impact and delay to the overall program timeline. This event and realignment of contractors on short notice is a challenge Zion was able to overcome.
“Our rig crew has assembled in Israel and will begin repair and maintenance on our drilling rig over the next couple of weeks,” said Monty Kness, VP of Operations. “Afterwards, the crew will rig down and have the rig’s critical components inspected and recertified prior to moving over MJ-01 and rigging back up. This is estimated to take an additional two to three weeks. While this is ongoing, the crew will mobilize the equipment necessary to re-open the MJ-01 well.”
After opening the well, Zion will implement cutting-edge technologies and innovative stimulation techniques on the MJ-01 well to potentially unlock oil and gas flows in both previously and newly identified zones of interest. The recompletion operations, involving a comprehensive work plan approved by the Israeli Ministry of Energy, are set to proceed through Q3 2024.
“Operations have officially kicked off, and our crew is fully engaged in safety testing and moving the rig,” said Zion Oil & Gas CEO, Rob Dunn. “We are ensuring all plans are followed to maximize the potential of the MJ-01 well.”
John Brown, Zion Founder and Chairman, expressed deep appreciation for the unwavering support from shareholders and the diligent efforts of the team in Israel. “This operational kickoff for the MJ-01 recompletion underscores God’s faithfulness and the dedication of our team and supporters. We are thankful for the continued prayers and support during this pivotal time for Israel.”
Zion Oil & Gas, a US public company traded on OTC, is committed to exploring for oil and gas onshore in Israel, spanning approximately 75,000 acres under the Megiddo Valleys License 434.
