Energean Oil & Gas and its subsidiaries have increased to 13 the total number of licenses held in the East Mediterranean. The Israeli Petroleum Commissioner has awarded the operator Blocks 12, 21, 22, 23, and 31 offshore Israel, which were published in the country’s first round.
The blocks are in the immediate vicinity of Energean’s Karish and Tanin developments (OGJ Online, Jun. 20, 2017). Each license comes with a 3-year exploration period, and Energean said potential economic discoveries will most likely be developed as tie-backs to the floating production, storage, and offloading unit that will be installed 90 km offshore. The FPSO will have capacity of 400 MMcfd of gas. Energean expects to start production from Karish in 2020 after spending $1.3-1.5 billion on the development.
Contact Tayvis Dunnahoe at [email protected].
