Greek E&P Energean to List in London

Greek E&P company Energean is said to be preparing a $500mn offering on the London Stock Exchange to help fund its Mediterranean gas development aspirations.

The offering, according to a February 19 report in the Financial Times, would likely go ahead in March.

In November, Energean confirmed to NGW that it was in the process of developing its Karish and Tanin gas fields offshore Israel and in December said its Israeli subsidiary Energean Israel (a joint venture with private equity funded Kerogen) had some 4bn m3/yr of production from the fields provisionally contracted, bringing FID near for the estimated $1.5bn project.

In January, it booked the Stena Forth drillship for development drilling at Karish.

According to the FT article, about $395mn of the March issue will be used to fund Karish and Tanin, from which Energean expects to see first gas in 2021.