London-listed Greek firm Energean is in talks to take full control of its Energean Israel subsidiary by buying-out 30% partner Kerogen Capital. Kerogen initially in February 2017 paid cash-strapped Energean $50mn for a 50% stake in its core Israel assets, before the Greek firm exercised an option to buy back 20% for $80mn 12 months later (MEES, 30 March 2018).

The latest deal, which MEES understands is valued at $300-500mn, will give Energean more flexibility in its decision-making as it advances development of 3.5tcf of reserves at Karish and nearby fields, the firm’s key assets (MEES, 27 November). (CONTINUED - 185 WORDS)