Energean opts for FPSO scheme for Karish, Tanin fields off Israel

Energean Oil & Gas SA, Athens, has followed its August 2016 commitment to develop deepwater Karish and Tanin natural gas and condensate fields offshore Israel (OGJ Online, Aug. 19, 2016). It announced a development plan using a floating production, storage, and offloading vessel.

Energean will submit a formal field development plan at midyear, which involves the drilling of 3-4 wells to develop Karish field and 2-3 development wells in Tanin field after Karish field production has come off plateau, the company said.

This follows the closing of the acquisition of the assets after Israel’s Petroleum Commissioner granted approval (OGJ Online, Dec. 7, 2016). The $148-million deal, plus royalties, is implemented as part of the Israeli government’s gas framework. Karish and Tanin fields—discovered in 2013 and 2011, respectively—have 2C gas resources of 2.4 tcf (OGJ Online May 23, 2013; Feb. 7, 2012).

The fields, about 40 km apart in Israel’s exclusive economic zone, will supply the Israeli market. Energean intends to start gas production in 2020. Karish and Tanin development is estimated to cost $1.3-1.5 billion over the next few years, the company said.

Energean acquired 47.059% from Noble Energy Mediterranean Ltd. and 26.4705% each from Avner Oil Exploration LP and Delek Drilling LP in August 2016, bringing its interest to 100% for both fields.

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

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

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...