Energean Oil & Gas has hired TechnipFMC as concept and front-end engineering design (FEED) contractor for the Karish and Tanin development programme.
This comes after Energean’s recent decision to develop the fields using a floating production, storage and offloading (FPSO) unit to facilitate the fastest route to market in line with the Israeli government’s gas strategy.
Energean Oil & Gas chairman and CEO Mathios Rigas said: “We are delighted to have TechnipFMC, one of the leading contractors in the world, working with us on the development of the Karish and Tanin fields. It is a project that will open-up the Israeli oil and gas market and both parties intend to play an important part in facilitating a more competitive energy supply for the benefit of Israeli domestic consumers and the economy."
TechnipFMC is involved in oil and gas subsea, onshore/offshore and surface contracting.
It has relevant experience in deepwater development programmes analogous to Karish and Tanin, and has delivered some large FPSO units including the Akpo, Nkossa, Girassol and Dalia fields.
The firm’s broader subsea capabilities imply that it is well placed to design and configure a completely integrated infrastructure for the Karish and Tanin projects, offshore Israel.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
Karish and Tanin projects were discovered in 2013 and 2011 respectively and contain 2C gas resources of 2.4 trillion cubic feet.
Energean acquired both the fields recently.
Energean intends to accelerate the development of Karish field to support Israeli government in bringing cheaper gas to the market by 2020.
Development of the Tanin field will follow afterwards.
This development programme is expected to involve an investment of around $1.3bn-$1.5bn over the next few years, and the field development plan will be submitted in mid-2017.