Energean PLC has taken a final investment decision (FID) to progress the Katlan natural gas project in the Mediterranean Sea.
Katlan field, which lies in 1,800 m of water offshore Israel, will be developed in phases through a subsea tieback to the existing Energean Power FPSO.
Phase 1 developlent (Athena, Zeus, Hera, and Apollo) represents 229 MMboe of prospective volumes, including 35 bcm of gas, and was approved by the Israeli Government in December 2023. First gas is planned for first-half 2027.
Capital expenditure is expected to be about $1.2 billion, which includes the subsea infrastructure, an upgrade of the FPSO topsides related to MEG treatment, injection and storage (which will benefit all future subsea tie-back developments, and drilling the development’s first production wells Athena and Zeus.
An EPCI contract for subsea work has been awarded to TechnipFMC and includes four-well-slot tieback capacity to a single 30-km production line, which could be used for future Katlan development phases (OGJ Online July 18, 2024).
The wider Katlan area contains an additional 223 MMboe (including 34 bcm of gas) of prospective volumes across other accumulations which Energean views as substantially de-risked.
Energean is 100% owner and operator of the Katlan Lease (I/21 Katlan).
Alex Procyk | Upstream Editor
Alex Procyk is Upstream Editor at Oil & Gas Journal. He has also served as a principal technical professional at Halliburton and as a completion engineer at ConocoPhillips. He holds a BS in chemistry (1987) from Kent State University and a PhD in chemistry (1992) from Carnegie Mellon University. He is a member of the Society of Petroleum Engineers (SPE).