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Project Insights

Greek player braves East Med trouble zone

Energean’s purchase of the Tanin and Karish fields from Delek could see the Greek explorer out of its depth in choppy waters Energean’s purchase of the Tanin and Karish fields from Delek could see the Greek explorer out of its depth in choppy waters.
By Rachel Williamson 23 August 2016 Middle East & Africa / Exploration & Production 0 21626
Israel’s Tanin and Karish gas fields.

The purchase of two gas fields off the coast of Israel by Greek explorer Energean may stir up a longstanding political standoff with Lebanon, a regional expert has warned.

Energean bought the Tanin and Karish fields last week for $148.5 million from Israeli producer Delek Group, entering a region where security risks and political tensions are high.

Karish, discovered in 2013, is about 5 km from the disputed border zone with Lebanon, a country still technically at war with Israel. Lebanese fears of Israel ‘stealing’ its...