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    Israel's Karish Field Sees Resource Bump


The upgrade means Energean can finalise 0.6bn m3/yr of supply contracts, and moves the project closer to an FID, expected later this year.

by: Joseph Murphy

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Israel's Karish Field Sees Resource Bump

Reservoir auditor DeGolyer & MacNaughton has raised the estimate of the reserves in the Karish North gas field off Israel. It puts the gross best-estimate contingent resources at 33.7bn m3 of gas and 39mn barrels of liquids, the project's operator Energean Oil & Gas announced on April 9.

Energean's previous best estimate for Karish North was only 9bn m3 of gas and 5mn barrels of liquids. DeGolyer estimates overall hydrocarbon resources at 250mn barrels of oil equivalent, 84% of which is gas.

Energean aims to start exploiting a cluster of gas fields off the coast of Israel in 2021, using a 8bn m3/yr floating production storage and offloading (FPSO) vessel. The vessel's hull sailed from the Cosco shipyard in China earlier this month.

The Mediterranean-focused producer took a final investment decision on the Karish and Tanin fields in the cluster in March 2018. It aims to greenlight Karish North's development in the second half of 2020, and is targeting first gas in 2022. It has also filed an addendum to its development plans for Karish and Tanin to include Karish North, expecting the latter to flow up to 3bn m3/yr of gas.

Gross proven and probable reserves and best-estimate contingent resources at Karish North and the nearby Karish and Tanin fields are now assessed at 99bn m3 of gas and 82mn barrels of liquids. The upgrade at Karish North means Energean can finalise 0.6bn m3/yr of gas sales contracts, it said, raising its overall contracted supply to 5.6bn m3/yr.