Independent energy firm Energean Oil & Gas announced Thursday that it has appointed TechnipFMC as the Concept and Front End Engineering Design (FEED) contractor for the Karish and Tanin development program.
The award follows Energean’s recent decision to develop the fields using a Floating Production, Storage and Offloading (FPSO) unit “to facilitate the quickest route to market in line with the Government of Israel’s gas strategy,” Energean said.
Karish and Tanin, located offshore Israel, were discovered in 2013 and 2011, respectively, and contain 2C gas resources of 2.4 trillion cubic feet. Energean, which has acquired 100 percent of both fields, 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 program is expected to involve an investment of around $1.3 to 1.5 billion over the next few years, and the Field Development Plan will be submitted to the Israeli Government in mid-2017.
“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,” Mathios Rigas, chairman and CEO of Energean Oil & Gas, said.
“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,” he added.
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