Israel Offshore Fields Development Progress: Karish and Tanin

The float-out of the hull comes 10 months after the cutting of the first steel. Energean previously said the hull completion was expected to take 12 months. Once completed, the FPSO will be deployed at Energean’s Karish and Tanin fields offshore Israel.

Energean said that the hull float-out marked a significant HSE milestone as the build was completed ahead of schedule and with no LTI’s in approximately 3 million working man-hours under TechnipFMCs management of the project.

The Energean Power FPSO hull will remain at the shipyards’ berth for additional construction works. The hull will then sail away to Sembcorp Marine’s Admiralty Yard in Singapore for the integration of the topsides planned later in 4Q. Energean has previously said that the FPSO is expected to sail away from a yard in Singapore in late 2020 ahead of first gas in 2021.

“The Karish Development project remains on track and on budget to deliver first gas in 1Q 2021,” Energean said.

Karish / Tanin

Energean sanctioned the 2.4 Tcf (gross, Energean 70%) Karish and Tanin development in March 2018. The company then revealed it would use $405 million of the $460 million raised from its IPO to fund its 70% share in the project, while the remaining 30% would be funded by Kerogen Capital.

Energean has contracted TechnipFMC under a turnkey, lump sum EPCIC contract worth $1.6 billion to provide the full suite of FPSO and SURF services during the construction phase and TechnipFMC has subcontracted COSCO to provide the FPSO hull.

Energean has chosen a new-build FPSO based on an existing design and will adopt a spread moored system, which it believes reduces technical risk on the field.  The hull will then travel to the Sembcorp Admiralty Yard in Singapore for the installation of the Siemens-built topsides.

With the next visible milestones being the completion of the development drilling program, expected 4Q 2019, Karish North appraisal, and sail away of the FPSO Hull from China to Singapore, expected late 2019.

Source: Offshore Energy Today