Israel: TechnipFMC Wins More Karish Work

Wednesday, February 24, 2021

Oilfield services giant TechnipFMC has secured more offshore oil and gas work with the oil and gas company Energean.

After it in March 2018 received a $1.36 billion EPCI contract from Energean to supply an FPSO for the Tanin/Karish gas fields offshore Israel, Technip has now received a letter of award from Energean Israel for the development of the Karish North field.

Energean sanctioned the Karish North development in January. The gas discovery was announced in April 2019. In November 2020, DeGolyer and MacNaughton issued an independent Competent Persons Report that certified 2P reserves of 32 Bcm of gas plus 34 million barrels of liquids - approximately 241 million barrels of oil equivalent in aggregate - in Karish North as at June 30, 2020.

The discovery will be commercialized via a tie-back to the Energean Power FPSO, which will be moored 5.4km away. The FPSO, being built for the main Karish discovery, is under construction in Singapore.

Illustration; Energean Power FPSO - Image courtesy of Energean

Under the letter of award, TechnipFMC will design, manufacture, deliver and install subsea equipment including the subsea production system, rigid flowlines, and umbilicals as a tieback to the ‘Energean Power’ FPSO as well as the second gas export riser.

TechnipFMC did not provide detail on the financial value of the deal. 

To remind, apart from TechnipFMC's role at the Karish development(s), Energean, through its Egyptian affiliate AbuQir Petroleum, last week awarded TechnipFMC an integrated EPCI contract for a subsea tie-back project located offshore Egypt.

TechnipFMC said the contract was a "significant" one, which for Technip means that it ranges between $75 million and $250 million in value.

Categories: Subsea Pipelines Industry News Activity Energy Production Mediterranean Sea

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