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Energean's development plans for Karish and Tanin approved (Israel)

The Israeli government endorsed Energean's US$1.5bn field development plan for the offshore Karish and Tanin gas field (Mediterranean Sea, Israel). Energean Oil & Gas will develop the fields through its subsidiary Energean Israel, a 50/50 joint venture between the Greek company Energean Oil & Gas and Kerogen Capital. Energean Israel holds a 100% stake in the fields, which have combined 2C resources reserves standing at 531 Mboe, divided into 2.7 tcf (about 76 bcm) of natural gas and 41 Mboe of light hydrocarbon liquids. The company intends to reach the Final Investment Decision (FID) by the end of 2017 and the production start is scheduled for 2020.



The development plan includes the drilling of three wells and the use of a floating production storage and offloading (FPSO) unit which will be located approximately 90 km off the Israeli coast with a production capacity of 400 mmscf/day (4.1 bcm/y).



Energean's development plans for Karish and Tanin approved

Source: Energean Oil & Gas