Greek oil company Energean has reportedly decided to use a floating production solution for its Tanin and Karish fields, offshore Israel.
To remind, Energean bought the Karish and Tanin natural gas fields in the Mediterranean Sea in December 2016.
According to Bizportal, an Israeli business news website, Energean on Wednesday said it would use an FPSO unit to develop the fields.
The field development plan, Bizportal further reports, is expected to be filed in mid-2017. The plan will include drilling of several development wells too.
The Karish and Tanin fields, discovered in 2013 and 2011, respectively, are estimated to have 2C gas resources of circa 2.4TCF.
The company intends to produce first gas in 2020. The development of Karish and Tanin is expected to involve an investment of circa $1bn over the next few years.
Offshore Energy Today has reached out to Energean seeking more details on the development concept. We will update the article if we get a response.
Offshore Energy Today Staff