Energean submits development plan for offshore Israel gas fields

Energean Israel has submitted the field development plan for the Karish and Tanin natural gas fields to the Israeli Petroleum Commissioner.

Karish and Tanin natural gas fields development plan
Karish and Tanin natural gas fields development plan

Offshore staff

ATHENS, GreeceEnergean Israel has submitted the field development plan (FDP) for the Karish and Tanin natural gas fields offshore Israel to the Israeli Petroleum Commissioner.

The Karish main development envisages drilling three wells, installing about 90 km (56 mi) offshore a new FPSO unit with a production capacity of 400 MMcf/d, and includes a dry gas pipeline connecting the field to the Israeli natural gas transmission system.

The company said that an FPSO would maximize recovery of the reserves and minimize environmental impact, allowing the associated oil to be safely processed, stored, and offloaded away from the coast, with minimal onshore installations required.

First gas is expected in 2020. Total estimated capex for the Karish development is $1.3-1.5 billion.

The Tanin area development will follow the development of Karish and envisages drilling six wells connected to the same FPSO.

Energean Chairman and CEO Mathios Rigas said: “…We will continue working closely with the Israeli government to obtain the required approval of the FDP as soon as possible in order to be able to reach final investment decision by the end of 2017…”

Energean Israel holds 100% of Karish and Tanin, which combined contain 2.7 tcf of natural gas and 41 MMboe of light hydrocarbon liquids, totaling 531 MMboe 2C resources.

06/20/2017

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