UK’s Energean Awards Contract to NOV for FPSO Upgrade

UK-based energy company Energean has awarded a contract to US oilfield services giant NOV (National Oilwell Varco) for critical upgrade work on its floating production, storage and offloading (FPSO) vessel, supporting its development in the Mediterranean Sea offshore Israel.

The Katlan project, which ties back to the existing Energean Power FPSO on the Karish field, is aimed at developing the Athena and Zeus discoveries. These fields hold combined proven and probable reserves estimated at 170 million barrels of oil equivalent, including 26 billion cubic meters of gas.

As part of the project, NOV will handle the upgrade of the FPSO’s topsides to support monoethylene glycol (MEG) treatment, injection, and storage systems. Energean confirmed that all major service contracts for Katlan have now been awarded within the budget defined by its $1.2 billion final investment decision announced in July 2024.

TechnipFMC had previously secured the subsea contract for the project, which includes an initial four-well subsea production system that will transport gas approximately 30 kilometers to the FPSO.

The company is targeting first gas from Katlan in the first half of 2027.