Zion Oil & Gas Inc (ZNOG): (Reuters) - Greek energy firm Energean h...

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Monday, 11/11/2019 3:48:19 PM

Monday, November 11, 2019 3:48:19 PM

(Reuters) - Greek energy firm Energean has made a vast discovery of 28-42 billion cubic meters of natural gas at the North Karish field off Israel's northwest coast, the company said on Monday.

The discovery is located not far from the company's floating production storage and offloading (FPSO) unit, which aims for a total export capacity of 8 billion cubic meters per year.

Energean has already presold some of the gas to independent Israeli power producer I.P.M. Beer Tuvia in an agreement set to last 19 years and earn Energean $900 million.

https://www.reuters.com/article/us-israel-energean-oil-idUSKCN1RR0WY

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