Offshore staff
ATHENS, Greece – Energean remains on track to deliver first gas from its Karish project offshore Israel during the first half of next year, the company said in its results statement.
All three Karish Main development wells have been completed and the hull of the FPSO Energean Power should depart the COSCO yard in China for the Admiralty Yard in Singapore in the next few weeks for topsides integration.
Despite the impact of the Coronavirus, the workforce at the COSCO site has been maintained above 550 personnel. Topsides construction has also made good progress.
Energean is working with main contractor TechnipFMC to mitigate the impact of the deferred sailaway from China on practical completion of the project.
Karish North should then deliver first gas in 2022.
Elsewhere offshore Israel the company has decided to defer its exploration activity on block 12 to help conserve capital.
Energean added that the Zeus and Athena exploration prospects remain attractive and the company intends to re-visit its investment decision on both in due course.
Results have come through from a recent 3D seismic over blocks 26 and 30 conducted by PGS’ Ramform Titan. Various shallow gas prospects and deeper carbonate prospects have been identified.
Finally, Montenegro’s Ministry of Economy has confirmed that Energean will receive an extension to the first exploration phase on its offshore acreage through March 15, 2021, with a drill-or-drop decision due by the end of this year.
03/19/2020
