Energean Israel, a subsidiary of Energean Oil & Gas (Energean), has submitted a field development plan (FDP) to the Israeli Petroleum Commissioner for the Karish and Tanin natural gas fields, offshore Israel.
Energean Israel holds 100% of the Karish and Tanin fields, which have a combined 2.7 trillion ft3 of natural gas and 41 million boe of light hydrocarbon liquids, totaling 531 million boe 2C resources.
The Karish main development envisages drilling three wells, using a new floating production storage and offloading (FPSO) unit that will be installed approximately 90 km away from shore, with 400 million ft3/d capacity. The development will allow Energean to maximise the recovery of reserves and minimise environmental impact. It will also allow light hydrocarbons liquid to be safely processed, stored and offloaded away from the coast, with a minimal number of onshore installations needed.
The Karish main development will also comprise a dry gas pipeline connecting the field to the Israeli natural gas transmission system. First gas is expected in 2020. Total estimated CAPEX for the Karish development is US$1.3 - 1.5 billion.
The Tanin area development will follow the development of Karish, envisaging drilling six wells that are connected to the same FPSO.
During the term of the lease, which runs until 2044, and may extend to 2054, the Karish and Tanin development is estimated to deliver 88 billion m3 of natural gas to the Israeli market. Up to 44 million bbls of light hydrocarbon liquids will potentially be exported to regional and international markets.
On submitting the FDP, Energean Chairman and CEO, Mathios Rigas, commented: “The submission of the FDP represents the achievement of yet another target we have set for Energean as part of our wider goal to bring competition to the Israeli gas market, for the benefit of consumers and the Israeli economy in general. We will continue working closely with the Israeli covernment to obtain the required approval of the FDP as soon as possible in order to be able to reach final investment decision by the end of 2017. Following the gas sales agreement signed recently with Dalia Power Energies and Or Power Energies, we are in discussions with other buyers eager to benefit from competitive terms offered for the supply of gas in Israel.”
Read the article online at: https://www.oilfieldtechnology.com/offshore-and-subsea/22062017/field-development-plan-submitted-by-energean/