Israel-focused gas driller Energean said on Thursday it will buy Italian energy group Edison's oil and natural gas unit for an initial consideration of $750 million.
The acquisition would significantly expand Energean's operations in the growing eastern Mediterranean gas hub, with a significant presence in Egypt's offshore basin.
Greek oil company Energean on Monday announced the signing of an agreement with Israel Natural Gas Lines which foresees the construction by Energean of onshore and near-shore natural gas facilities in Israel, to be handed over to INGL upon completion.
The pipework will transmit quantities from Energean's floating, production, storage and offloading unit to the Israeli gas network.
According to Zahir Tanin, these events "culminated today (Tuesday) in the declared resignations by the mayors of four northern municipalities."
Regarding the tariffs placed on Serbian and Bosnian goods, Tanin "reiterated that such actions represent a clear
violation of the CEFTA agreement and should be retracted," a press release said.
Greek oil and gas company Energean will invest $1.6 billion in its Karish and Tanin gas fields off the coast of Israel, it said on Thursday, days after raising about $460 million on the London stock exchange.
Karish and Tanin have potential reserves of 2.4 trillion cubic feet of natural gas and 32.8 million barrels of light oil and condensate.
Energean plans to list on the London Stock Exchange in March and aims to raise about $500 million (356.53 million pounds), the Greek energy company said on Monday.
Sources had told Reuters in November that the company was considering a London listing to raise cash for a $1.5 billion development of the Karish and Tanin fields off Israel's coast.
Greece’s Energean Oil & Gas announced on August 30 that its subsidiary Energean Israel, a 50/50 joint venture between Energean and Kerogen Capital, has received approval from the Israeli Petroleum Commissioner for its Field Development Plan (FDP) for the development of the Karish and Tanin natural gas fields, offshore Israel. The FDP application was submitted on 20 June 2017.
Greek oil producer Energean has exceeded its target for gas sales contracts needed before it goes ahead with plans to tap two gas fields off Israel's coast, market sources said on Wednesday. Energean bought the Karish and Tanin fields, located in deep waters around 100 kilometers off Israel's coast, last August for $148 million from US-Israeli partners Delek Group and Noble Energy.