On May 28, Greek Energean Oil and Gas signed an agreement with Dalia Power and Or Power, for supplying 23 billion cubic meters of natural gas to offshore Israel’s Tanin and Karish gas fields.
Dalia Power operates Israel’s largest private power station and Or Power is planning to build new power plants, Reuters reports.
Energean Oil and Gas completed its acquisition of the Karish and Tanin development leases, offshore Israel in December 2016. These fields were discovered by Noble in 2012/13 and contain audited 2C Resources ca. 2.5 Tcf of sweet biogenic gas and associated liquids in dense phase, representing ca. 40mm bbls light oil & condensates (recoverable).
The fields are adjacent to the Leviathan field. Produced gas must be sold domestically in Israel. Engineering feasibility study for the gas project completed. Concept select work has commenced, targeting FDP submission mid-2017. Base case is a gas FPSO with gas pipeline to shore and offshore liquids offloading.
The company said that intends to execute the project via an established deep water contractor alliance, minimizing project risk.
