Gilmartin said the contract was a “real milestone” that “reflects our strategic approach to breaking into the field support ROV market”.
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.
Israel and Lebanon have reached a draft agreement, settling the maritime dispute that had threatened energy developments.
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.
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.
Hezbollah head Hassan Nasrallah has issued a new threat to Israel’s activities offshore, including around Energean’s Karish development.
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 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.
Israeli power producer Dalia Power Energies has opted to terminate its gas purchase from Energean’s Karish and Tanin developments.
Lebanese politicians have raised concerns over offshore plans by Energean and Halliburton, in a disputed area.
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.