Energean has taken a Final Investment Decision (FID) on the $1.2bn Katlan development project in Israel.
The area will be developed in a phased approach through a subsea tieback to the existing Energean Power floating production storage and offloading vessel (FPSO), with first gas planned for the first half of 2027.
The EPCI contract for the subsea scope has been awarded to TechnipFMC and includes four-well-slot tieback capacity to a single large 30km production line. The fields are located in water depths of up to 1,800m.
Capital expenditure covers subsea infrastructure, an upgrade of the FPSO topsides related to MEG treatment, injection and storage, which will benefit all future subsea tie-back developments, and drilling for the first two production wells. Phase 1, comprising Athena, Zeus, Hera and Apollo, comprises 229 mmboe, including 35 bcm of gas.
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