The Israeli Petroleum Commissioner has awarded Energean Oil & Gas five offshore exploration licenses covering Blocks 12, 21, 22, 23, 31, which were available for bidding in Israel’s first offshore bidding round.
Each license has an initial exploration period of three years, the company reported today (13 December).
The blocks are close to Energean's Karish and Tanin gas fields, which the company currently is developing. Any economic discoveries made on the five licenses would be developed via tiebacks to the floating production storage and offloading vessel planned for Karish and Tanin.
The five licenses raise the total number of licenses held by Energean and its subsidiaries to 13, providing upside potential for future growth and complementing Energean’s East Mediterranean portfolio, the company said.
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