Monday, May 8, 2017

Energean to tender for $500m FPSO - TRADEWINDS / UPSTREAM

FPSO Mystras operating offshore Nigeria
May 8th, 2017 12:56 GMT
Gary Dixon

Greek group wants unit for Karish gas project off Israel.

Greece's Energean Oil & Gas is tendering for a new $500m FPSO.

The company wants the unit for its $1.3bn Karish gas and condensate project off Israel.

The FPSO must be ready by 2020 when the first gas is pumped.

Energean chief executive Mathios Rigas told TradeWinds' sister publication Upstream:

"I think we will be looking to go to the market probably in the summer, towards the start of the third quarter. If we are able to contract yards soon we will get a lot better prices rather than waiting."

He added: "It could be South Korea; it could be China; it could be Europe; it could be a number of different places. It's going to be a competitive process."

The FPSO would handle between 200m and 300m cbm of gas per day, plus between 5,000 and 6,000 barrels per day of associated liquids.