LONDON-LISTED independent Energean has taken the final investment decision on its Karish North gas development offshore Israel. Energean confirmed late last week that it has sanctioned the Karish North development that is set to commercialise an estimated 241 million barrels of oil equivalent in proven plus probable reserves. The development will see the Karish North discovery commercialised via a low-cost tie-back to the Energean Power floating production, storage and offloading vessel, which lies about 5.4 kilometres away. First production is anticipated in the second half of 2023, with production from the first well expected to average just under 8.5 million cubic metres per day, or roughly 3 billion cubic metres per annum. "We are also increasing the liquid processing capacity of our FPSO to process the additional volumes we discovered for minimal incremental cost," Energean chief executive Mathios Rigas said.
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