Greek energy company Energean Oil & Gas outlined on January 11
initial details for the development of the Karish and Tanin natural gas
fields, offshore Israel, noting that they will be developed using a
Floating Production, Storage and Offloading (“FPSO”) unit to facilitate
the quickest route to producing first gas in line with the objectives of
the Israeli government.
At a press conference on Janaury 11 in Tel Aviv, Energean said the
development through an FPSO will enable Energean to maximise the
recovery of reserves and minimise environmental impact, and allows oil
to be safely processed, stored and offloaded away from the coast, with
minimal onshore installations needed. The use of the FPSO will result in
delivering gas at competitive prices for the benefit of Israeli
consumers and the Israeli economy.
Energean will submit a formal Field Development Plan (FDP) for both
fields mid-2017. This is expected to encompass the drilling of 3-4 wells
to develop the Karish Field and 2-3 wells to develop the Tanin Field,
once production from the Karish Field has come off plateau, the company
said.
Energean noted that it intends to produce first gas in 2020. The
development of Karish and Tanin to first gas is expected to involve an
investment of circa $1.3-1.5 billion over the next few years.
“We are delighted to be progressing strongly towards the development
of a world class asset with 2.4TCF of Natural Gas, which will bring
diversification of supply and competitive prices to the Israeli domestic
market,” Energean CEO
Mathios Rigas said. “With the
continued support and swift decision making of the Israeli Government
and the cooperation of other stakeholders in the country, we are ready
to proceed as quickly as possible with the development of the fields.”
(New Europe, 11 Jan. 2017)
https://www.neweurope.eu/article/greeces-energean-develop-israeli-fields-fpso/