ATHENS, Greece — Energean says its Karish North subsea gas development offshore Israel and the second gas export riser for the Energean FPSO should both be completed by the end of the year.
All associated infrastructure is in place with final offshore commissioning planned in early December.
However, arrival of the module for the FPSO’s second oil train, which was scheduled to depart Dubai in early October, has been held up by the security situation in Israel.
Energean expects to take FID on another subsea gas project in the area, Katlan, around year-end 2023, based on results of the FEED performed by Technip UK.
In the Gulf of Suez offshore Egypt, Energean’s PY#1 well has finished drilling and is suspended ahead of first gas. The NI#1 well, which spudded in September, should be completed next month.
Both wells are due to come onstream by year-end 2023, representing the conclusion of the NEA/NI development. The El Qaher-1 rig will then drill the NAQ-PII#2 infill well on the offshore Abu Qir license.
The Orion-1X exploration well on the offshore North East Hap'y Concession started drilling in October, targeting 283 Bcm of gas. Energean has signed farm-out agreements that will reduce its interest in the license from 30% to 19%, subject to government approvals.
Offshore Sicily, operator Eni expects drilling to start in early December at the Cassiopea development offshore Sicily, followed by first gas in 2024.
Finally, the European Commission has adopted Energean's Prinos carbon and storage project offshore western Greece as a project of common interest.
The company has signed non-binding memoranda of understandings for about 5 MM metric tons per year of storage and EUR150 million ($162.6 million) of grants have been pledged. Energean is also working to convert its exploration license to a storage permit.