Greek independent Energean Oil & Gas is aiming to take a final investment decision on its proposed Karish gas development off Israel in the immediate aftermath of a planned $500 million flotation in London, which it unveiled this week.

The Athens-based player will put $395 million from the expected offering into development of Karish and another Israeli gas field, Tanin.

The initial public offering to list on the London Stock Exchange’s main bourse is being planned for next month, with chief executive Matios Rigas telling Upstream he envisages sanctioning of the Karish development soon after.