London-listed player Energean Oil & Gas is moving towards the completion of its floating production, storage and offloading vessel that will be used for its Karish & Tanin gas field development off Israel.
The Energean Power FPSO hull has undocked and floated out from Chinese yard Cosco Shipping Heavy Industry in Zhoushan, China, approximately 10 months after first steel was cut.
The first phase of the work has been completed ahead of schedule.
Energean said earlier that the project to develop 2.4 trillion cubic feet of natural gas from Karish and Tanin is on track to produce first gas in the first quarter of 2021.
Cosco was awarded the hull construction job as a sub-contract from main FPSO contractor Sembcorp Marine (SembMarine) of Singapore.
Once the hull is completed in China it will travel to SembMarine later in the fourth quarter, where the topsides will be installed under a contract that the Singaporean fabricator was awarded by Energean's main project contractor TechnipFMC.
Energean has said that sailaway from Singapore is seen in late 2020.
The FPSO will be installed in 1700 metres of water offshore Israel. It will be able to store 800,000 barrels of liquids and will have ultimate capability to handle up to 8 billion cubic metres of gas per year, which equates to about 800 million cubic feet per day.