Energean CEO Mathios Rigas described the deal as “an exciting step in the next stage of our development, one that can only enhance our position as the pre-eminent independent natural gas producer listed in London”.
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 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.
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 has signed up a rig from Stena Drilling to work on up to five wells offshore Israel.
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 is on a path to transformation, with capital expenditure peaking in early 2022 and delivering – hopefully – 200,000 barrels of oil equivalent per day in 2023.
Energean has taken final investment decision (FID) on its Karish North gas development, offshore Israel.
Energean has closed its acquisition of Edison Exploration & Production from Edison for a total of $203 million.
Energean has signed a pair of key gas sales contracts for its Karish development in the eastern Mediterranean.
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.