However, insecurity in Israel has delayed these plans. Energean said it would install the train once the security situation improves.
"The winning companies have committed to unprecedented investment in natural gas exploration over the next three years, which would hopefully result in the discovery of new natural gas reservoirs.”
ADNOC has announced a final investment decision (FID) on the Hail and Ghasha development, its largest ever gas development.
Gilmartin said the contract was a “real milestone” that “reflects our strategic approach to breaking into the field support ROV market”.
The Lower Zakum long-term development plan aims to increase production to a peak of 500,000 barrels per day. Adnoc expects to achieve this in around five years.
Saipem’s Castorone vessel will carry out the offshore operations, starting in the summer of 2024. The company previously worked on the first phase of the Sakarya field, which began producing in April.
Olympus will come at a lower cost than Tanin, Energean said, owing to its proximity to the FPSO. As a result, capital expenditure for the next phase of tie-backs will be lower.
The work should take about two months, it said. Once the FSO Safer is clean and empty, it will be towed to a green shipping yard.
Nigeria’s emissions are 16 kg of CO2 per barrel and Angola’s 17 kg, while on the shelf they rise to an average of 33 kg.
BP said the offer was in line with its "stated strategy and financial frame including current guidance for capital expenditure".
The Israeli company has also talked about building a third gathering line at Leviathan, with a final investment decision (FID) due early this year.
Pipeline installation work at Chevron’s Tamar gas field will get under way in 2024.
“It’s a matter of cost,” DNV’s Mediterranean manager Andrea Spessa said. “This pipeline is the best solution to transport energy from one country to another in this range.”
“Along with our partners, we are committed to drilling as soon as possible in 2023 an exploration well in Block 9, and our teams are mobilised to conduct these operations.”
Adnoc has awarded a pre-construction award for offshore facilities on the Hail and Ghasha project to a group including National Petroleum Construction Co. (NPCC).
Total production for 2022 reached 41,000 barrels of oil equivalent per day, of which 75% was gas. For 2023, Energean forecasts this will increase to 131,000-158,000 boepd. Virtually all of the increase will come from Israel.
Adnoc has awarded Samsung Engineering a letter of award for pre-construction services on the Hail and Ghasha project.
With Qatar at the centre of a “sellers’ market” for LNG, what can the East Mediterranean offer European governments to ease the pressure?
Turkey’s TPAO has added another 58 billion cubic metres of gas to its holdings with a discovery at the Caycuma-1 well.
AD Ports Group has agreed to launch a joint venture with Kazakhstan’s national oil company to provide shipping services in the Caspian Sea.
However, QPD launched its work in the late 1990s and began producing in March 2006. The fields have now produced 33.5 million barrels of oil.
TotalEnergies aims to drill “as soon as possible” in Lebanon’s Block 9, in 2023, following talks with the Lebanese government.
Chevron (NYSE:CVX) has taken a final investment decision (FID) to expand the Tamar field, offshore Israel.
Adnoc has brought forwards its plans to reach 5 million barrels per day of production, while boosting reserves and setting out plans for an IPO of a new gas unit.
TotalEnergies and Eni have reached a deal with Israel allowing them to begin exploration in Lebanon’s Block 9.