Energean awards FEED contract to TechnipFMC for Israel's Karish and Tanin fields

2/2/2017

ATHENS, Greece -- Energean Oil & Gas has announced that it has appointed TechnipFMC as the Concept and Front End Engineering Design (FEED) contractor for the Karish and Tanin development program. This 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.

TechnipFMC has highly relevant experience in deepwater development programs analogous to Karish and Tanin, and has delivered some of the largest FPSO units in the world, including Akpo, Nkossa, Girassol and Dalia fields. Its broader subsea capabilities mean that it is well placed to design and configure a fully integrated infrastructure for the Karish and Tanin projects.

Karish and Tanin, located offshore Israel, were discovered in 2013 and 2011, respectively, and contain 2C gas resources of 2.4 Tcf, and Energean acquired 100% of both fields. Energean is intending to fast-track the development of Karish field to support the Israeli Government in bringing cheaper gas to the market by 2020. The development of Tanin field will follow thereafter. The development program is expected to involve an investment of circa $1.3 billion to $1.5 billion over the next few years, and the Field Development Plan will be submitted to the Israeli Government in mid-2017.

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