Energean Produced First Gas From Karish Field Off Israel

Oil and gas company Energean has confirmed that first gas has been safely delivered at the Karish field offshore Israel.

Energean said earlier this week that the gas was being produced from the Karish Main-02 well and the flow of gas was being steadily ramped up. Preparation for transmission through the gas sales pipeline is progressing and gas sales to Energean’s customers are expected to begin in the next couple of days.

The company also stated that the Karish Main-01 and Karish Main-03 wells were expected to be opened up in approximately two and four weeks, respectively.

The Energean Power FPSO and the sales gas pipeline have an ultimate capacity of 8 bcm per year. The initial capacity is up to 6.5 bcm per year, and commercial gas sales are expected to reach this level approximately four to six months following first gas.

The company’s growth projects – the Karish North development, the second oil train, and the second export riser – are on track for completion in late 2023, following which Energean will be able to produce to the full 8 bcm per year capacity of its infrastructure.

"I am delighted to confirm that Energean has reached first gas at the Karish field, offshore Israel. We have delivered a landmark project that brings competition to the Israeli gas market, enhances the security of energy supply in the East Med region and brings affordable and clean energy that will displace coal-fired power generation, making a material impact on the environment.”

“We are committed to reaching our medium-term targets of 200 kboed production and $1.75 billion of annualized EBITDAX and the delivery of the Karish project is a major milestone towards this goal. We are now focused on ramping up production and delivering the full 8 bcm capacity through our expansion project to the Energean Power FPSO,” Mathios Rigas, Chief Executive Officer of Energean, said.

To contact the author, email bojan.lepic@rigzone.com