A floating production facility is slated to start drilling for natural gas off the coast of Israel by early next year, Energean Oil and Gas said Monday. Energean said it decided on plans for drilling in the Karish North prospect in the Mediterranean Sea before the end of March. This will be the first of seven efforts outlined in a contract with Stena Drilling. The cost to drill is around $25 million at the high end to tap a prospect with an estimated 200 million barrels of oil equivalent in natural gas and 14 million barrels of light oil. Mathios Rigas, the company’s CEO, said Energean already has 12 contracts to secure gas for the next decade or so. “The goal […]