Israel: TechnipFMC gets to work on Energean’s FPSO

Greek oil company Energean Oil & Gas has appointed TechnipFMC as the contractor for Concept and Front End Engineering Design (FEED) for the Karish and Tanin development offshore Israel.

This follows Energean’s recent decision to develop the offshore fields using a floating production, storage and offloading (“FPSO”) unit.

TechnipFMC is a company recently established through a merger of Technip and FMC Technologies. The merger has created one of global leaders in oil and gas subsea, onshore/offshore and surface contracting.

Energean said it has selected TechnipFMC, as the company has highly relevant experience in deep water development programs analogous to Karish and Tanin, and has delivered some of the largest FPSO units in the world including the Akpo, Nkossa, Girassol and Dalia fields.

Its broader subsea capabilities mean that it is well placed to design and configure a fully integrated infrastructure for the Karish and Tanin projects, Energean said.

 

The fields

 

Karish and Tanin, located offshore Israel, were discovered in 2013 and 2011 respectively and contain 2C gas resources of 2.4TCF and Energean acquired 100% of both fields recently. Energean is intending to fast-track the development of the Karish Field to support the Israeli
Government in bringing cheaper gas to the market by 2020. The development of the Tanin Field will follow thereafter. The development programme is expected to involve an investment of circa $1.3-1.5 billion over the next few years, and the Field Development Plan will be submitted to the Israeli Government in mid-2017.

Mathios Rigas, Chairman and CEO of Energean Oil & Gas, said: “We are delighted to have TechnipFMC, one of the leading contractors in the world, working with us on the development of the Karish and Tanin fields. It is a project that will open up the Israeli oil and gas market and both parties intend to play an important part in facilitating a more competitive energy supply for the benefit of Israeli domestic consumers and the economy.

““TechnipFMC, even more so after its recent merger, is a global leader in oil and gas engineering design and contracting. Their know-how, expertise and quality standards in deep water and FPSO projects will all assist in delivering the most efficient and environmentally sensitive development of these projects. We are sure that the combination of Energean and TechnipFMC’s skills and resources can contribute to the onward development of Israel’s broader upstream industry, its technology and human capital. We look forward to a long-term and mutually beneficial partnership together”.

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