Energean (ENOG.L) has announced plans to invest approximately $1.2 billion in the development of the Katlan gas project, located off the coast of Israel. The company has made its final investment decision, with gas production expected to begin in the first half of 2027.
The Katlan project, discovered by Energean in 2022, consists of multiple gas formations near its other Mediterranean projects, Karish and Tanin, which are also under Energean’s ownership.
The company plans to spend around $1.2 billion on developing the Katlan project, including upgrading infrastructure and drilling new wells. According to Energean, the field holds about 1.10 trillion cubic feet of proven and probable gas reserves.
Energean expects the new production to support its existing gas sales agreements and aims to target international markets with the Katlan project.