• Natural Gas News

    Energean Gets Israeli Reserves Certified


Karish, Karish North and Tanin have been independently certified to hold 98.2bn m3 of proven and probable reserves.

by: Joe Murphy

Posted in:

Natural Gas & LNG News, Middle East, Premium, Corporate, Exploration & Production, News By Country, Israel, Israel

Energean Gets Israeli Reserves Certified

Israel's Energean has had its offshore Israeli reserves independently certified at 98.2bn m3 of gas and 99.6mn barrels of liquids in proven and probable reserves, the company reported on November 10.

A competent persons report was undertaken by DeGolyer and MacNaughton at the Karish, Karish North and Tanin fields, Energean said. Some 39.9bn m3 of the gas is at Karish, 32.2bn m3 at Karish North and 26.1bn m3 at Tanin.

Energean took a final investment decision on the Karish and Tanin fields in 2018, and is targeting first gas in 2021, using a 8bn m3/yr floating production storage and offloading (FPSO) vessel. The Mediterranean-focused producer confirmed that it was still on track to greenlight Karish North this year. Its launch is expected in 2022.

According to DeGolyer and MacNaughton, the three fields could flow at a plateau rate of 7.2bn m3/yr. Production above 6.5bn m3/yr will require a second riser to be installed on the FPSO, however, at an expected cost of $50mn. The riser is due to be operational by the end of 2023. Energean has already agreed sales contracts for 7bn m3/yr of gas.

Karish and Karish North could also yield 28,400 barrels/day of liquids at peak, according to DeGolyer and MacNaughton.

Energean plans to resume its exploration programme in early 2022, targeting 62bn m3 of gas and 33mn barrels of liquids in prospective resources across the Karish and Tanin leases and block 12.