Energean announces a $1.2 billion investment to develop the Katlan gas project, to be discovered in 2022.
Located off the Mediterranean coast of Israel, Katlan lies close to the Karish and Tanin gas fields, also operated by Energean.
The Katlan field contains 1.10 trillion cubic feet of proven and probable gas reserves.
Drilling and well upgrades are underway, with initial production scheduled for the first half of 2027.
This massive investment is aimed at strengthening existing gas sales agreements and targeting international markets.
Economic and strategic implications
The Katlan development aims to double Energean’s gas production in the coming years.
The project is crucial to ensuring Israel’s energy security and supporting the region’s sustainable development.
Energean has obtained a 30-year lease for the Katlan area from Israel’s Ministry of Energy and Infrastructure, with an option to extend for a further 20 years.
Gas production from Katlan will supply local energy needs, while enabling exports to international markets.
Energean CEO Mathios Rigas emphasizes that this project will provide additional energy security and promote sustainable development in Israel and the region.
Future prospects and developments
Energean plans to significantly increase its production through the development of Katlan.
This project is part of a broader strategy to strengthen the company’s position in the international energy market.
The development of this gas field represents a crucial step for Energean and for the region’s energy security.
The Katlan project will also contribute to the local economy by creating jobs and generating significant revenues for Israel.
The infrastructure put in place for this project will serve as the basis for other future energy projects in the region.
Energean’s goal is to become a major player in the global gas industry.
The development of Katlan, in addition to its contributions to regional energy security, positions Energean to play a central role in the supply of natural gas to international markets.
This investment represents a major step forward for Israel’s energy security and economic development.
With this project, Energean is at the forefront of meeting the growing energy needs of the region and international markets.
