Exploration & Production

Finance deals signal progress on Karish and Tanin

Energean is forging ahead with its Israeli offshore projects as a result of its recent IPO and an agreement to secure financing Energean is forging ahead with its Israeli offshore projects as a result of its recent IPO and an agreement to secure financing.
By James Gavin 19 March 2018 0 30045
The Prinos oil and gas patform in the East Mediterranean An Energean platform off Greece. (Energean)

Athens-based Energean Oil & Gas made its initial public offering on the London Stock Exchange on Friday, raising $460 million to help fund development of the Karish and Tanin gas fields offshore Israel.

The IPO means the last obstacle to declaring an FID for the development has been cleared. This puts the East Mediterranean-focused company on course to meet its target for reaching FID by the end of Q1. 

Its shares were priced at £4.55 ($6.35) each, with around 72.59 million...