Gilmartin said the contract was a “real milestone” that “reflects our strategic approach to breaking into the field support ROV market”.
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.
Energean approved the plan in January 2021. As such, the time it took from final investment decision (FID) to first gas is two years and two months.
The company went on to say there may be opportunities in future to take emissions from other sources, such as fertiliser producers.
Energean has announced the first ever lifting of an Israeli crude oil cargo from its Karish field, months after the field produced first gas.
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.
Screening legacy wells can be more important than 3D seismic when picking storage areas, Elaine Campbell said. “They provide valuable data but they’re also likely to be the highest risk to containment,” the Storegga official said.
With Qatar at the centre of a “sellers’ market” for LNG, what can the East Mediterranean offer European governments to ease the pressure?
Ithaca Energy has announced the presence of hydrocarbons at its much-anticipated Isabella well, though operator TotalEnergies has yet to confirm commercial implications.
Energean has added another 13 billion cubic metres of gas offshore Israel at its Zeus exploration well, with one more well to drill.
The drive to secure additional energy supplies in the East Mediterranean was a rare case of hydrocarbons aiding, rather than hindering, a political agreement, Energean head Mathios Rigas said this morning.
Israel has approved “certain testing procedures” for Energean, allowing the company to begin tests as its Karish gas field.
Energean’s Hermes exploration well has found 7-15 billion cubic metres of gas, encouraging the company on its other prospects and adding another well slot.
Energean has started up a new well on its Abu Qir concession, in Egypt. Abuqir Petroleum, a joint venture of Egyptian General Petroleum Corp. (EGPC) and Energean, has completed a new sidetrack, the NA/Q-PII#6 ST.
A trio of energy companies have teamed up to look at turning a Southern North Sea gas platform into a home for seabirds.
For the first time in decades, we are witnessing an energy crisis the likes of which many of us will have never seen before. Startling levels of volatility across global energy markets are leading governments to implement measures that this time last year would have been unimaginable.
Israeli forces have shot down three Hezbollah drones that appeared to be heading for the recently arrived FPSO on the Karish field, in the Mediterranean Sea.
Israel has begun preparations for a fourth offshore bid round (OBR 4), even while still waiting for the closing results of its third round.
The Israeli government has stepped in to warn off Hezbollah and Lebanon from interfering with the recently arrived Energean Power FPSO, on the Karish field.
Energean’s FPSO has arrived offshore Israel, aiming to begin producing from the Karish field in the third quarter.
Energean has shifted its AGM in London in response to a proposed demonstration around working conditions at its Greek oilfield.
Energean has made a commercial gas discovery offshore Israel at its Athena well, within tie-back range of its Karish-Tanin development.
Energean almost doubled its adjusted EBITDAX in 2021, from 2020, and expects first gas from its Karish project in the third quarter of this year.
Questions have been raised over the future of Glengorm, hailed as the UK's largest gas discovery in a decade, after an appraisal campaign yielded no commercial hydrocarbons.
Israeli power producer Dalia Power Energies has opted to terminate its gas purchase from Energean’s Karish and Tanin developments.