Report: Energean finds buyers for Tanin, Karish gas (Israel)

Greece’s oil and gas company Energean has reportedly signed gas sale deals for its Karish and Tanin gas field offshore Israel.

According to a statement cited by Reuters and Bloomberg, Energean will supply 23 bcm of natural gas to Israeli power stations operated by Dalia Power and Or Power.

Offshore Energy Today has reached out to Energean seeking confirmation and more details. The company has yet to respond.

Energean is the operator of and holds a 100% interest in the Karish and Tanin licenses located in the Mediterranean Sea, offshore Israel. It acquired the fields from Delek Group in December 2016, for a consideration of $40 million as well as $108.5 million in contingent payments.

The fields contain at least 2.4 Tcf of gas contingent resources and will be developed through an FPSO, which will be the first to be installed and operated in the East Mediterranean.

The gas produced from the fields will supply Israel’s growing domestic gas market, with first gas expected in 2020. The final investment decision for the project is expected to be made by the of 2017.

Offshore Energy Today Staff

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