Energean to develop two fields off Israel

Energean Oil & Gas, Athens, has committed to submit within 6 months a development plan for deepwater Karish and Tanin natural gas and condensate fields offshore Israel, 100% interests in which it agreed to acquire.

The $148-million deal accommodates antitrust stipulations in the Israeli government’s natural gas framework allowing development of nearby Leviathan gas field and expansion of Tamar field, both much larger than Karish and Tanin (OGJ Online, Dec. 17, 2015).

Energean will acquire interests of 47.059% from Noble Energy Mediterranean Ltd. and 26.4705% each from Avner Oil Exploration LP and Delek Drilling LP, according to Delek Group.

The fields, about 40 km apart in Israel’s exclusive economic zone, will supply the Israeli market.

The agreement is subject to government approvals.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...