Offshore staff
ATHENS, Greece – The hull of the FPSO Energean Power has departed the COSCO yard in China and is now being towed to the Sembcorp Marine Admiralty Yard in Singapore.
Sail-away represents the first key milestone in the Karish gas field project offshore Israel, according to operator Energean Oil and Gas plc.
Following integration of the topsides, the completed FPSO will eventually depart for the Mediterranean Sea. First gas from Karish remains on track for H1 2021, Energean said.
The company has also issued an update on its conditional sale and purchase agreement, entered into last July, to acquire Edison E&P, subject to relevant government approvals.
Due to difficulties obtaining the consent of the Algerian authorities in respect of Edison’s onshore Algeria interests, these will now be excluded from the scope of the acquisition, with an adjustment to the total consideration of around $150 million.
Energean now aims to complete the acquisition as soon as possible this year, and then conclude a separate deal to sell Edison E&P’s UK and Norwegian subsidiaries to Neptune Energy for $250 million plus a contingent consideration of up to $30 million.
04/03/2020
