The Israeli Ministry of Energy and Infrastructure has authorized production to resume from two offshore gas projects following a pause in hostilities between Israel and Iran.
Energean said it had received instructions to safely restart production from the Karish Field at normal operations at the deepwater Energean Power FPSO.
Chevron Mediterranean received a similar notice yesterday from the Ministry concerning the offshore Leviathan platform. Partner NewMed Energy said restart operations were underway, with the intention of restoring regular production from the reservoir within a few hours.
According to an initial estimate, halting of production from the sale of natural gas and condensate and income from overriding royalties from the Karish lease totaled $38.8 million.
In line with the gas sale agreements, the Leviathan partners issued a notice to their customers invoking a force majeure clause in respect of the period during which production from the Leviathan Field was suspended.
NewMed said they will consider the potential for receiving compensation from the state in connection with the halted production.
