Greece’s
Energean Oil & Gas announced on December 13 that Energean Israel has been
awarded five offshore exploration licences within the Israeli Exclusive
Economic Zone (EEZ) by the Israeli Petroleum Commissioner following a
recommendation by the Petroleum Council. The initial exploration period under
each Licence is three years.
The awarded
Licences comprise blocks 12, 21, 22, 23 and 31, which were published for
bid-ding in the recent First Israeli Offshore Bid Round. The blocks are located
near the Karish and Tanin gas fields which are currently moving towards
development by Energean.
Energean
said the company believes that the Licences awarded are highly prospective and
would benefit, in the event of any economic hydrocarbon discoveries, from being
developed via tie-backs to the FPSO that Energean will construct for the
development of the Karish and Tanin fields.
Moreover,
the Greek company said Energean believes these five additional Licences, which
will raise the total number of licences held by the Company and its
subsidiaries to 13, will provide upside potential for future growth and
complement the Company’s portfolio within the East Mediterranean region. This
portfolio includes low cost production from Greece, a world class development
project from the Karish and Tanin gas fields, as well as exploration potential
in Israel, Greece and the Adriatic.
https://www.neweurope.eu/article/greeces-energean-gets-5-offshore-exploration-licences-near-israel/