Greek independent Energean Oil & Gas has been cleared of a legal hassle involving the approval of its Karish and Tanin gas field development off Israel.
Athens-based Energean said on Thursday that the petition filed by Hof Hacarmel – a regional council located in the northern Israeli coastal plain - has been dismissed by the Israeli Supreme Court.
Hof Hacarmel filed the petition against the Israeli Ministry of Energy, the Petroleum Commissioner, two planning and construction authorities, Energean’s local subsidiary in Israel and an environmental union of local authorities, in connection with the project, trying to stop its development.
Energean's field development plan for the project was approved by the Israeli authorities in August last year. Since then, the company approved the $1.6 billion final investment decision to proceed with the development, having secured finance and equity funding for the project.
