Energean could spud as soon as Friday the first well in a highly anticipated deep-water drilling campaign — targeting a potential 110 billion cubic metres of gas — in the East Mediterranean offshore Israel, as the UK-listed explorer also launches a process to farm down its equity interest in three blocks.

According to a sales teaser seen by Upstream, Energean has hired Jefferies International to handle the potential farm down of its 100% interests in licences 408/21 (Block 21), 411/31 (Block 31) and 410/23 (Block 23) in the prolific Levatine basin.