Energean announced that first gas has been safely delivered at the Karish field, offshore Israel. The company said that gas is being produced from the Karish Main-02 well and the flow of gas is being steadily ramped up.
According to the company’s statement, preparation for transmission through the gas sales pipeline is progressing and gas sales to Energean’s customers are expected to commence in the next couple of days.
Karish Main-01 and Karish Main-03 wells are expected to be opened up in approximately two and four weeks, respectively.
“We have delivered a landmark project that brings competition to the Israeli gas market, enhances security of energy supply in the East Med region and brings affordable and clean energy that will displace coal-fired power generation, making a material impact to the environment,” Mathios Rigas, Chief Executive Officer of Energean, said.
He added that the company is committed to reach medium-term targets of 200 kboed production and $1.75 billion of annualized EBITDAX, indicating that delivery of the Karish project is a major milestone towards this goal.
“We are now focused on ramping up production and delivering the full 8 bcm capacity through our expansion project to the Energean Power FPSO,” he added.