Energean seeking outright control of Israeli E&P subsidiary

Dec. 7, 2020
Energean has entered into a 30-day exclusivity arrangement to acquire Kerogen’s 30% shareholding in Energean Israel.

Offshore staff

ATHENS, GreeceEnergean has entered into a 30-day exclusivity arrangement to acquire Kerogen’s 30% shareholding in Energean Israel.

An agreement would lead to Energean increasing its shares in Energean Israel – which has a 100% working interest in the offshore Karish and Tanin leases – from 70% to 100%.

Energean Israel also has a 100% interest in exploration blocks 12, 21, 23, and 31 offshore Israel with near-infrastructure drilling opportunities that could be targeted in Energean’s next drilling campaign in the area, likely to start in early 2022.

The licenses are all in the proven Tamar sand play fairway, and contain numerous prospects and leads.

In addition, Energean Israel has an 80% interest in four further offshore blocks in Zone D.

12/07/2020