The Israeli petroleum commissioner has awarded Energean Israel five offshore exploration licenses within the Israeli Exclusive Economic Zone, Energean Oil & Gas said in a news release.
The initial exploration period for each license is three years. The licenses comprise blocks 12, 21, 22, 23 and 31, which were part of Israel’s first offshore bid round. The blocks are located near the Karish and Tanin gas fields, which are moving toward development by Energean, the release stated.
Energean said it believes the awarded licenses are highly prospective and would benefit, if economic hydrocarbon discoveries are made, from being developed via tiebacks to the FPSO unit that Energean will construct for the Karish and Tanin developments.
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