Tanin News

UK-based international oil and gas exploration and production company Energean Oil & Gas and the Public Gas Corporation of Greece (DEPA) have agreed to cooperate to further support the EastMed Pipeline Project.The have signed a Letter of Intent (LoI) for the potential sale and purchase of 2 BCM natural gas per annum from Energean’s gas fields offshore Israel, where Energean is investing $1.7 billion for the development of the Karish & Tanin fields through the FPSO “Energean Power”.DEPA, as a 50% shareholder of the IGI Poseidon – a Joint Venture with Edison S.p.A - is developing the EU Project of Common Interest (PCI) EastMed Pipeline and is a leading player in natural gas supply and retail activities in the Greek and S.

The hull of Energean Oil and Gas’ Energean Power FPSO has been undocked and floated out from the COSCO Shipyards’ dock in Zhoushan, China, about 10 months after first steel cut. Once completed, the FPSO will be deployed at Energean’s Karish and Tanin fields offshore Israel, the international oil and gas exploration and production company said.According to Energean, the build was completed ahead of schedule and with no loss time incidents in about 3 million working man hours. TechnipFMC is managing the project.The Energean Power FPSO hull will remain at the Shipyards’ berth for additional construction works, and its sailaway to Sembcorp…

UK-based oil and gas exploration and production company Energean Oil & Gas  has signed a Gas Sales and Purchase Agreement (GSPA) with I.P.M. Beer Tuvia Ltd. (IPM) to supply an estimated 5.5 BCM of gas from its Karish and Tanin FPSO over a period of 19 years.According to a release, the contract is subject to necessary approvals and is contingent on results of the 2019 drilling programme, which includes the drilling of four wells in Israel and commences with the spud of Karish North in March 2019, targeting 36.8 BCM (1.3 Tcf) of gas with a volume weighted geological chance of success of 69%.The agreement adds between 0.265 and 0.38 BCM/yr of gas sales, commencing in approximately 2024.

Energean Oil and Gas announced that first steel was cut on the Karish and Tanin floating production storage and offloading (FPSO) vessel at the COSCO yard in Zhoushan, China, on Monday. The FPSO is scheduled to be delivered to the Karish field offshore Israel in late 2020, ahead of first production in the first quarter of 2021.The FPSO, which will be installed 90 kilometers offshore, will be the first FPSO to operate in the Eastern Mediterranean. It will have a gas treatment capacity of 800 MMscf/day (8 BCM/per annum) and liquids storage capacity of 800…

Energean Oil & Gas announced that Energean Israel has signed a contract with Stena Drilling for the development drilling of the Karish Field, offshore Israel. Pursuant to the contract, Stena Drilling will deploy the Stena Forth drillship (or such substitute as may be agreed by the parties) to drill three development wells in Q1 2019 (with provision made for further options), subject to Energean’s Final Investment Decision (FID) regarding the Karish and Tanin gas fields. The Stena Forth, one of the DrillMAX Fleet vessels, is a DP Class 3 ultra-deep water drillship with a track record in world-wide operations, ranging from the Mediterranean (Libya), Egypt (Gulf of Suez), Malaysia, Greenland and the US (Gulf of Mexico).

Greek developer Energean Oil & Gas has secured its first gas supply deals for Israel's Karish and Tanin reservoirs, Reuters reported. The deals were signed with Dalia Power, which operates Israel's largest private power station, and Or Power, which is planning to build new power plants, Energean said in a statement. The two firms will be purchasing an overall amount of up to 23 billion cubic meters (bcm) of gas to operate the Dalia power plant – Israel's largest private power station –  as well as future such facilities to be built by Or, the partners announced on Sunday. Energean, a private exploration and production company in the eastern Mediterranean…

Offshore energy platforms a potential target; Israel accepting bids on 24 new exploration blocks. Israel is boosting spending on its navy to better protect offshore oil and gas deposits and secure a large maritime zone that abuts that of its neighbour and enemy, Lebanon. The navy asked in 2013 for an increase in its budget of $700 million to build up its systems and $100 million annually to maintain them, though the defence ministry declines to say how much it has since received. The increase was tied to the need to defend the oil and gas development, and the current spending comes as Israel begins accepting bids from companies that want to explore 24 offshore blocks in the eastern Mediterranean that adjoin the vast Leviathan deposit.

The Israel Navy’s fourth submarine, the ISS Tanin (Crocodile), is expected to become fully operational in a few weeks and participate in naval operations. The nuclear-capable submarine boasts an array of sophisticated weaponry, as well as the latest in intelligence-gathering technology. It stands at a whopping 68 meters long, compared to 57.3 meters on average for other submarines. The navy’s fifth submarine, meanwhile, is expected to arrive this summer, and is now in the final stages of construction at the Howaldtswerke-Deutsche Werft (HDW) shipyards in Kiel, Germany. Israel is expected to officially take control of the ISS Rahav (“arrogance” or “fearlessness”) in a few weeks, when it will begin its maiden voyage from Germany to Israel. Lt. Col.

Reuters - Edison, the Italian utility owned by EDF, is in talks to buy two Israeli gas fields from U.S. explorer Noble Energy and Israel's Delek Drilling, which are estimated to hold up to 70 billion cubic meters in total, two sources with knowledge of the talks said. The Israeli and U.S. companies developing the massive Leviathan natural gas field off Israel's coast have to sell their stake in two smaller fields to avoid being branded a cartel by the anti-trust authority. Edison is in talks to buy the Tanin and Karish fields offshore Israel, the sources said. Edison was not immediately available for a comment. "The fields are between 50 and 70 Bcm together, but a survey has to be concluded first to understand the exact size of the resource," one of the sources said.

An official ceremony to hand over to Israel a Dolphin-class submarine, which can carry nuclear weapons, took place in the German city of Kiel, according to Rianovosti. The German-made submarine, named Tanin ("alligator" in Hebrew), is due to enter service in 2013, when all tests are completed. The Tanin is the fourth submarine of the Israeli Defense Forces (IDF), and one of the country’s most expensive defense contracts. Its construction costs are estimated at $500 million, with one third being subsidized by the German government. "The Navy and the submarine fleet constitute a deterrent, protective and strategic arm for the IDF and for the State of Israel," Defense Minister Ehud Barak said during the ceremony.