Greek firm Energean last week took a final investment decision (FID) at its 3tcf Karish and Tanin fields offshore Israel, though Phase-1 will only see the 1.8tcf Karish field developed. Energean expects the total outlay to first gas to be $1.605bn – almost all of which the firm, which has minimal current output, has had to raise externally.

The total Phase-1 cost will be $2.07bn, with the key outlay consisting of $1.422bn in awards to France’s TechnipFMC (see chart). (CONTINUED - 2027 WORDS)