Eastern Mediterranean-focused gas group Energean said on April 9 a report showed its Karish North Field contained about a third more gas and oil than it had previously thought.
The Karish North Field, according to an expert report typically used in the industry, contains 2C resources of 34 billion cubic meters (Bcm) of gas and 39 million barrels (MMbbl) of oil.
This lifts Energean’s gross resources at its Israeli offshore fields, for which it has secured offtake agreements, to 99 Bcm of gas and 82 million barrels of oil, which equates to 698 million barrel of oil equivalent.
Energean has commissioned an 8 Bcm per year FPSO vessel, which sailed from its initial construction yard in China this month. It has already secured contracts for around 5.6 Bcm a year.
“Energean continues to actively market additional gas volumes to secure additional long-term cash flows that are largely insulated from global commodity price fluctuations,” the group said.
Recommended Reading
Belcher: Texas Considers Funding for Abandoned Wells, Emissions Reduction
2025-03-20 - With uncertainly surrounding federal aid as the Trump administration attempts cost cutting measures, the state is exploring its own incentive system to plug wells and reduce emissions.
US Slaps Iran-Related Sanctions on Oil Tankers, China 'Teapot' Refinery
2025-03-20 - The U.S. issued new Iran-related sanctions, targeting entities including for the first time a Chinese "teapot," or independent refinery, and vessels that supplied crude oil to such processing plants.
Kinder Morgan’s Fore: Despite Hits, Pieces for Regulatory Reform Fall into Place
2025-03-20 - Kinder Morgan’s Vice President of Public Affairs Allen Fore said the current regime’s regulatory stance is the biggest change he’s seen in his lifetime.
Exclusive: Tariff Agenda Forms Muddy Waters for Oil, Gas Decision-Makers
2025-03-20 - Paul Gruenwald, the global chief economist for S&P Global Ratings, discusses growing concerns with global demand and the impact of tariff uncertainties on the oil and gas industry, in this Hart Energy Exclusive interview.
Segrist: Permit Reform Rumbles as US Seeks to ‘Unleash American Energy’
2025-03-19 - The White House has called for changes to a heavily criticized system, but new rules require a lot more work.