Energean announces NEA/NI Final Investment Decision - ENERGEAN OIL & GAS

London, 21 January 2021 – Energean pl is pleased to announce that Final Investment Decision has been taken on the North El Amriya and North Idkunea (“NEA/NI”) concession subsea tieback project in offshore Egypt. The NEA concession contains two discovered and appraised gas fields (Yazzi and Python) while the NI concession contains four discovered gas fields, one of which is readied for development. NEA/NI is due to deliver first gas in 2H 2022 with 49 million boe of 2P reserves, 87% of which is gas and peak production is expected to be approximately 90 mmscf/d plus 1 kbopd of condensates.

The NEA/NI project is a key one for the Egyptian portfolio which will provide substantial benefits to the long-term production profile in the country, whilst bringing additional cost efficiencies and strategic benefits. When Brent prices are above $40/bbl, gas will be sold at $4.6/mmBTU, which is the highest achieved to date for shallow water gas production, offshore Egypt. Total capital expenditure is expected to be approximately $235 million, the majority of which is expected to be incurred in 2022 and TechnipFMC has been awarded the EPIC contract to deliver the project. The NEA/NI drilling campaign is expected to be integrated with a broader Abu Qir drilling campaign, providing synergies on capital expenditure.

SOURCE

Subsea structures in place at Karish offshore Israel - OFFSHORE MAGAZINE

Allseas' Solitaire & TechnipFMC's Normand Cutter at Karish

22 Jun 2020

LONDON – TechnipFMC and Allseas have completed two major components of Energean’s Karish gas project in the Mediterranean Sea, offshore Israel.

Allseas’ Solitaire completed installation of the 90.3-km (56-mi), 30-in. and 24.in gas sales pipeline in water depths of up to 1,700 m (5,577 ft).

The full program included placement of a tie-in manifold structure in 72 m (236 ft) water depth.

On average, excluding the beach pull, the rate of laying was 4,578 m/d (15,019 ft/d).

TechnipFMC’s construction support vessel Normand Cutter installed the production manifold, subsea isolation valve foundations and structures.

During 4Q, installation should get under way of the three sets of risers - 2 x10-in. and 1 x 16-in. - that will connect the three producing wells to the FPSO and then to the gas sales pipeline, finishing in 1Q 2021.

Currently the Karish development is around 80% complete, Energean said.

Energean on track for first Israeli gas, FPSO sailaway 'in coming weeks' - PLATTS

19 Mar 2020 | 10:54 UTC London

Author: Stuart Elliott
Editor: Alisdair Bowles 

London — UK-based Energean Oil & Gas said Thursday it is on track for first gas from its Israeli offshore fields in the first half of 2021, announcing that the hull of the firm's dedicated production vessel would sail away from its Chinese shipyard "in the coming weeks."

There had been concern that work on the 8 Bcm/year capacity FPSO Energean Power could be delayed due to travel restrictions imposed in China after the start of the coronavirus outbreak.

"In the coming weeks, you will see our FPSO hull sail away from China to Singapore, a key milestone in the delivery of first gas from Karish, which is on track for H1 2021," CEO Mathios Rigas said following the release of the company's 2019 earnings.

Energean said final work on the vessel would take place in Singapore and the vessel sailed to Israel around year-end for installation.

Energean: coronavirus could delay Israel gas field development - GLOBES

6 Feb, 2020 15:05
Amiram Barkat

The FPSO for the Tanin and Karish offshore natural gas fields is under construction in China.

The coronavirus outbreak in China is liable to delay natural gas delivery by Greek company Energean Oil & Gas plc (LSE: ENOG; TASE: ENOG) to customers in Israel. Energean, which is developing the small offshore Karish and Tanin gas fields, announced today that it had been notified by TechnipFMC, a subcontractor for the Karish and Tanin development project that it "reserves the right to extend the agreement for completion of the project due to events beyond our control."

TechnipFMC is concerned that the quarantine in parts of China because of the virus will delay completion of the floating production storage and offloading unit (FPSO) designed to produce gas from Karish and Tanin and stream it to the shore. The FPSO, now being built in China at a cost of $2 billion, is scheduled to reach Israel before 2021, and to anchor above the fields, 100 kilometers off the shore.

"Energean Power" FPSO hull construction, a 10-month journey in 90 seconds! - ENERGEAN OIL & GAS

Sep 20, 2019

The "Energean Power" FPSO floated out from the COSCO's shipyards, in Zhoushan, China in mid - September. An important milestone for the development of gas discoveries in the East Mediterranean, achieved also with a great HSE record: under TechnipFMC project management, more than 3 million man hours  with no Lost Time Injuries have been completed! See you soon at the Sembcorp Marine Admiralty Yard in Singapore!

Case Study: iEPCI at Karish - OFFSHORE ENGINEER

Image: TechnipFMC

April 25, 2019

Willy Gauttier 

An integrated approach to subsea services is the driving force behind a major project being performed by UK-based TechnipFMC at the deepwater Karish field, offshore Israel, in the Mediterranean Sea.

The integrated engineering, procurement, construction and installation (iEPCI) award for Energean Oil & Gas’ Karish development at 1,750 meters water depth marks the largest iEPCI project the company has undertaken to date.

The $1.4 billion Karish gas project is one of 12 iEPCI projects TechnipFMC has been awarded throughout the globe. The company’s approach to comprehensive integrated solutions is designed to strengthen the economics of subsea projects and help unlock first oil and gas faster.

The integrated full-field subsea offer includes subsea architecture design; subsea development and integrated project execution; and optional performance enhancement via inspection, maintenance and repair.

“Bringing together complementary skills and advanced technologies through integrated solutions can boost efficiency, lower costs and accelerate schedules,” said Senior Project Director Steve Duthie.

Jumbo Offshore wins contract from TechnipFMC for Leviathan field - OFFSHORE TECHNOLOGY

7 NOVEMBER 2018

Jumbo Offshore has secured a contract from TechnipFMC to deliver transportation and installation services at the Leviathan development, located in the eastern Mediterranean region offshore Israel.

TechnipFMC is working on a project that comprises a subsea production system connecting subsea wells to a fixed platform located 10km off the coast of Israel.

Under the terms of the contract, Jumbo is responsible for lowering a 410t subsea production manifold onto the seabed at a water depth of 1643m.

The company is also required to install various other subsea isolation valves (SSIVs) and valve skids at a water depth of 86m.

“Jumbo will appoint one of her offshore heavy-lift crane vessels (HLCVs) to complete this project in early 2019.”

The scope of the contract also includes transportation of various equipment from the US Gulf Coast to Eastern Mediterranean.

Corinth to manufacture Karish steel pipes - OFFSHORE MAGAZINE

JUNE/08/2018

MAROUSSI, Greece – TechnipFMC has contracted Corinth Pipeworks Pipe Industry to manufacture and supply steel pipes for Energean’s Karish gas field development in the Mediterranean Sea offshore Israel.

The agreement covers 90 km (56 mi) of 24-in. and 30-in. LSAW pipe material for the offshore gas pipeline: this will connect the subsea manifold at a maximum water depth of 1,750 m (5,741 ft) to the receiving terminal onshore.

Pipe manufacture and coating will start at Corinth Pipeworks facility in Greece later this year.

Egypt lets contract for Midor refinery expansion - OIL & GAS JOURNAL

Houston, JUNE/08/2018
Robert Brelsford

The government of Egypt has let a contract to TechnipFMC PLC to provide services related to the implementation of the expansion at state-owned Middle East Oil Refinery Co.’s (Midor) 115,000-b/d refinery in El Amreya Free Zone, Alexandria, Egypt.

Signed on June 7, the $1.7-billion contract will cover construction, supplies, and engineering designs for the expansion, which aims to increase overall refining capacity at the site by 60% to 175,000 b/d, Egypt’s Ministry of Petroleum and Mineral Resources (MPMR) said.

Overall cost of Midor’s expansion project—which will include participation of Egypt’s ENPPI and Petrojet—will amount to about $2.2 billion, MOP said.

Alongside increasing Midor’s crude processing capacity, the expansion also will raise the refinery’s current LNG production by about 145,000 tonnes/year, benzene 95 by about 600,000 tpy, and jet fuel by about 1.3 million tpy.

The Midor expansion comes as part of MPMR’s integrated plan to develop, upgrade, and increase efficiency and production quality of Egypt’s refineries through implementation of a series of new projects across manufacturing sites to help meet domestic petroleum product demand as well as reduce imports from abroad, said Tariq El-Molla, Egypt’s minister of petroleum and natural resources.

Energean receives Class approval for FPSO design for Karish-Tanin - WORLD OIL

MAY/8/2018

LONDON -- Energean Oil & Gas, the independent oil and gas exploration and production company focused on the Eastern Mediterranean, announced that it has received Class approval from DNV-GL, the global quality assurance body, for the Basic Design of the new-build Floating Production Storage and Offloading (FPSO) that will be deployed at its deepwater Karish-Tanin development, offshore Israel.

This rapid obtainment of Class approval reflects the maturity of the FPSO design at Final Investment Decision (FID) and keeps the development on track to cut first steel as planned before the end of 2018.

Early Class approval was viewed as a critical milestone and its achievement, on schedule, validates the adopted strategy of building upon an existing hull design from TechnipFMC subsidiary, Inocean.

Energean to boost east Mediterranean output - TIMES OF OMAN

April 21, 2018 | 4:21 PM

London: Freshly London-listed Energean Oil & Gas is boosting its Greek output and expects first gas from its Israeli fields in the first quarter of 2021, making it one of the biggest independent energy firms operating in the eastern Mediterranean.

Energean listed last month, raising $460 million to develop two Israeli offshore gas fields, Karish and Tanin, which have potential reserves of up to 2.4 trillion cubic feet of gas and 32.8 million barrels of light oil and condensate.

It also won five more Israeli blocks nearby and plans to publish their contingent resource data in the next few months, Chief Executive Mathios Rigas told Reuters in a phone interview.

BRIEF-TechnipFMC says awarded contract by Energean for Karish field in Israel - REUTERS

MARCH 26, 2018 / 8:25 AM

TechnipFMC Plc:

• SAYS AWARDED INTEGRATED ENGINEERING, PROCUREMENT, CONSTRUCTION AND INSTALLATION CONTRACT BY ENERGEAN FOR KARISH FIELD OFFSHORE ISRAEL

• TECHNIP SAYS CONTRACT COVERS THE DESIGN, PROCUREMENT, CONSTRUCTION AND INSTALLATION OF THE COMPLETE SUBSEA SYSTEM.

• IT INCLUDES A FLOATING PRODUCTION STORAGE AND OFFLOADING UNIT (FPSO) DESIGNED TO ALLOW THE SUBSEQUENT TIE-BACK OF THE TANIN FIELD, THE PIPELINE SYSTEM, AND THE ONSHORE PIPELINE AND VALVE STATION AT THE RECEIVING STATION. 

Energean takes FID on Karish and Tanin gas project, offshore Israel - WORLD OIL

MARCH/23/2018

ATHENS -- Energean Oil & Gas PLC has announced that its board of directors has approved the Final Investment Decision (FID) to proceed with the $1.6-billion Karish & Tanin Development Project, offshore Israel.

$405 million of the $460 million raised from the recent IPO of Energean will be used to fund the Company’s 70% share in the project, while the remaining 30% will be funded by Kerogen Capital, Energean’s partner in the project.

The project is also being financed through a Senior Credit Facility of $1.275 billion recently announced and underwritten by Morgan Stanley, Natixis, Bank Hapoalim and Société Générale.

Energean has secured long-term gas agreements with some of the largest private power producers and industrial companies in Israel. The Company has contracted for the purchase of a total of 61 Bcm of gas over a period of 16 years, at an annual rate of approximately 4.2 Bcm per year (on an ACQ basis).

Energean will develop the project through a new build, owned FPSO with gas treatment capacity of 800 MMscfd (8 Bcm/per annum) and liquids storage capacity of 800,000 bbl, which the Company believes provides a flexible infrastructure solution and, potentially the scope to expand output for potential additional projects. A 90-km gas pipeline will link the FPSO to the Israeli coast and necessary onshore facilities to allow connection to the domestic sales gas grid operated by INGL, the national gas transmission company.

TechnipFMC on for Leviathan - UPSTREAM

24 Mar 2017 10:15 GMT
Iain Esau

Contractor heavily tipped to take major pipeline installation contract

Paris and New York-listed TechnipFMC is the front-runner to secure a major pipeline installation contract for Noble Energy’s initial $3.75-billion Leviathan project off Israel.

Industry sources said the super-contractor has beaten off rival bids from Subsea 7 and Allseas, among others, to secure pole position in the eyes of the US independent.

“We think they have got Leviathan,” said a project watcher.

Another market player added: “It’s TechnipFMC for Leviathan.”

TechnipFMC’s pipelay contract is expected to cover a pair of 117-kilometre pipelines taking gas and condensate, separately, to a big fixed platform installed on Israel’s continental shelf, about 10 kilometres off the coast.

EMGC '17: Eastern Med gas monetization demands regional cooperation - WORLD OIL / HYDROCARBON PROCESSING

Leda and the Swan mosaic, Sanctuary of Aphrodite, Kouklia, Cyprus

March/14/2017
Adrienne Blume

NICOSIA -- Sessions devoted to gas monetization options and foreign investment initiatives dominated the afternoon of the first day of Gulf Publishing Company's fourth Eastern Mediterranean Gas Conference (EMGC) 2017, March 14.

Strategies for gas monetization. During the conference's second session, executives from companies at work in the region shared offshore development strategies, updates on pipeline proposals and regional power requirements.

Tim Crome, technology manager for TechnipFMC's Global Front End Group, expounded on the advantages of an integrated approach to offshore developments. To drive value for clients, TechnipFMC is working to accelerate and integrate technology innovations, to unlock possibilities to transform project economics, and to develop better integrated offerings across all operations. The company's integrated approach also allows for mitigation and reallocation of commercial risks.

Energean: A Greek success - IN CYPRUS / CYPRUS WEEKLY

February 19, 2017
Charles Ellinas

Energean is a private exploration and production group focused on Greece, the Adriatic, the East Med and North Africa. It is the only oil and gas producer in Greece. It has been much in the news recently following its acquisition of the Tanin and Karish gas-fields offshore Israel.

Energean has its roots in the successful development of the Prinos oil-field offshore Kavala in Greece. At a time of crisis in the global oil and gas sector, Energean managed to grow into a leading player in the region with a balanced portfolio of oil and gas production, low-risk development projects and high-impact low-cost exploration assets.

Kerogen commits $50 mln to Energean Israel - THE PE HUB NETOWORK / ENERGEAN OIL & GAS

February 15, 2017
By Iris Dorbian

Kerogen Capital has agreed to invest $50 million in Energean Israel, an Energean subsidiary and operator of the Karish and Tanin gas fields in offshore Israel. After the closing of the deal, which will need to be approved by the Israeli government, Kerogen will own a 50 percent stake in Energean Israel.

PRESS RELEASE - ENERGEAN OIL & GAS

ATHENS, Greece–(BUSINESS WIRE)–Energean Oil & Gas (“Energean”) is pleased to announce that Kerogen Capital (“Kerogen”) has committed to invest an initial US$50 million in Energean Israel, a subsidiary of Energean, ahead of the planned $1.3 billion development of the Karish and Tanin gas fields, offshore Israel.

Energean Appoints TechnipFMC as Concept and Engineering Design Contractor for Karish and Tanin FPSO, Israel - ENERGEAN OIL & GAS

February 2, 2017

Energean Oil & Gas (“Energean” or “the Company”) is pleased to announce that it has appointed TechnipFMC as the Concept and Front End Engineering Design (FEED) contractor for the Karish and Tanin development programme. This follows Energean’s recent decision to develop the Fields using a Floating Production, Storage and Offloading (“FPSO”) unit to facilitate the quickest route to market in line with the Government of Israel’s gas strategy.

TechnipFMC is a global leader in oil and gas subsea, onshore/offshore and surface contracting. It has highly relevant experience in deep water development programmes analogous to Karish and Tanin, and has delivered some of the largest FPSO units in the world including the Akpo, Nkossa, Girassol and Dalia fields. Its broader subsea capabilities mean that it is well placed to design and configure a fully integrated infrastructure for the Karish and Tanin projects.