TechnipFMC in iEPCI Win for Energean Karish Development
TechnipFMC has been awarded an integrated Engineering, Procurement, Construction and Installation (iEPCI) contract by Energean for the Karish full field development, offshore Israel.
The execution of this iEPCI contract covers the design, procurement, construction and installation of the complete subsea system, a floating production storage and offloading unit (FPSO) designed to allow the subsequent tie-back of the Tanin field, the pipeline system, and the onshore pipeline and valve station at the receiving station.
Hallvard Hasselknippe, president of TechnipFMC’s Subsea business, said: “This award demonstrates our leadership position in iEPCI. It also highlights our unique ability to combine a fully integrated field development encompassing both the entire subsea and FPSO scope.
“We are honored that Energean Oil & Gas has embraced this new way of doing business, engaging with us early through an integrated FEED (iFEED) study and directly awarding the full project scope through an integrated EPCI (iEPCI) model.”
The Karish and Tanin fields hold 2.4 TCF of natural gas and 33 million barrels of light hydrocarbon liquids independently audited contingent (2C) resources.
Energean made Final Investment Decision for the Karish and Tanin development project in March 2018, after having signed 12 gas sales and purchase agreements for 4,2 BCM in total annually and secured financing for the project.