Energean has pushed back the expected start of operations at its Karish project, offshore Israel, owing to delays in Singapore, while also approving more Karish North work.
Energean has taken final investment decision (FID) on its Karish North gas development, offshore Israel.
Energean expects its Karish gas project in Israel to reach first gas in the fourth quarter of 2021 and the Edison E&P deal to close this December.
Poor gas demand may restrain Eastern Mediterranean production until 2023, GlobalData has warned.
Energean has signed a pair of key gas sales contracts for its Karish development in the eastern Mediterranean.
Aberdeenshire-based ACE Winches, a Balmoral Group company, has successfully completed a shore-pull project for a 2.7km 30” gas sales export pipeline for the Karish gas development field in the south-east Mediterranean Sea, offshore Israel.
Work has restarted in Singapore on a vessel for Energean that is due to begin producing gas off Israel in 2021.
The purchase of Edison E&P will provide Energean with insulation from oil price volatility, although the company has trimmed its capital expenditure plans in 2020.
Energean Oil and Gas has issued a warning of the potential impact of the novel Coronavirus on the construction, and therefore timetable, of the hull for its floating production, storage and offloading (FPSO) vessel for its Karish field.
The Energean Power hull has undocked from the COSCO shipyard, in Zhoushan, China, and floated out.
Energean Oil and Gas said today that it will drill an exploration well in the Karish North prospect, offshore Israel, in the first quarter of 2019.
Singapore's Sembcorp Marine shipyard will build the floating production, storage and offloading vessel for the Energean-operated Karish and Tanin fields in the Mediterranean.
Energean Oil and Gas said today it intends to raise £330million from an initial public offering in London.
Energean Oil & Gas has signed a secured senior credit of up to $1.27billion to help it pay for the development of the Karish offshore gas field.