Energean is set to produce first gas from its flagship Israeli fields in the second half of 2021 after coronavirus-related delays, the Eastern Mediterranean gas field developer said Sept. 10.
Energean is building an 8 billion cubic meter (Bcm) per year floating production vessel offshore Israel and has already sold 5.6 Bcm a year into the nation’s market.
It had initially guided for first gas in the first half of 2021 but had flagged this depended on the coronavirus’ impact on construction.
Energean upgraded its reserves and resource estimates in April to 698 million barrels of oil equivalent of which 88% are gas.
Energean expects to fine tune these estimates in the coming weeks, the company said as it reported a first-half loss after tax of $77.3 million versus a loss of $4.5 million a year earlier.
Recommended Reading
Petrobras to Add Two FPSOs Offshore Brazil in Second-half 2024
2024-08-12 - Petrobras will bring online 280,000 bbl/d of production capacity in the second-half 2024 with the addition of two FPSOs offshore Brazil.
EOG Testing 700-ft Spacing in Ohio’s Utica Oil Window, Sees Success
2024-08-05 - EOG Resources’ test at the northern end of its 140-mile-long north-south leasehold produced IPs similar to those from a nearby pad.
Exxon Surprises with Smaller FPSO for Guyana’s Hammerhead Project
2024-07-19 - Exxon Mobil Corp. announced plans for its seventh development offshore Guyana, Hammerhead, which will add 120,000 bbl/d to 180,000 bbl/d of production capacity starting in 2029.
In Ohio’s Utica Shale, Oil Wildcatters Are at Home
2024-08-23 - The state was a fast-follower in launching the U.S. and world oil industry, and millions of barrels of economic oil are still being found there today.
Gran Tierra Makes Oil Discovery in Ecuador’s Charapa Block
2024-08-12 - Gran Tierra Energy’s oil discovery at the Charapa-B6 well will be its fifth discovery in Ecuador.