Energean produces first gas from Karish Israel field

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Greek oil and gas company Energean confirmed that the first gas had been delivered at its operated Karish field offshore Israel.

According to a company announcement, gas is being produced from the Karish Main-02 well, and gas flow is being steadily ramped up.

Preparation for transmission through the gas sales pipeline is progressing, and gas sales to Energean’s customers in the Israeli market are expected to commence in the next couple of days.

As for Karish Main-01 and Karish Main-03, wells are expected to be opened up in approximately two and four weeks, respectively.

Energean CEO Mathios Rigas said: “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 reach our medium-term targets of 200 kboed production and $1.75 bln of annualised 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”.

The Energean Power FPSO and the sales gas pipeline have an ultimate capacity of 8 bcm/yr.

The initial capacity is up to 6.5 bcm/yr, and commercial gas sales are expected to reach this level approximately four to six months following first gas.

Energean’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 it will be able to produce to full 8 bcm/yr capacity of its infrastructure.

The London-listed energy group had begun pumping gas to its floating production facility on October 9 as part of reverse flow testing procedures.

Israel and Lebanon on Thursday are expected to sign a US-brokered maritime border deal reached this month, opening the way for offshore energy exploration.