Energean’s $1.2b Katlan project to start in ’27

Energean, a London-based independent E&P company focused on developing resources in the Mediterranean, announced on Tuesday a $1.2 billion investment to develop the Katlan gas project off Israel, with production expected to commence in the first half of 2027.

Discovered in 2022, Katlan is near Energean’s Karish and Tanin projects and contains 1.10 trillion cubic feet of proven and probable gas reserves. The development will support existing gas sale agreements and target international markets.

Energean aims to double its production, with CEO Mathios Rigas highlighting the project’s role in enhancing energy security and sustainable development. Israel’s Ministry of Energy and Infrastructure has granted a 30-year lease with a 20-year extension option.

Attribution: Reuters