JERUSALEM, Feb 14 (Reuters) - Energean said on
Tuesday it had begun exporting condensate, an extremely light
form of oil which occurs as a byproduct of natural gas
production, from its Karish field offshore Israel.
Energean said it had already sold hundreds of thousands of
barrels to global energy trader Vitol Group, which would bring
it to international markets.
"The total sales volume expected from the export of liquids
from the Karish reservoir amounts to hundreds of millions of
dollars per year," it said.
Energy firms have been producing large quantities of
condensate from Israeli fields for years, selling it to the
domestic market. Energean said this was the first time the
product was sold abroad.
Natural gas production at Karish began last October.
Energean said at the time it expected to reach initial capacity
of up to 6.5 billion cubic meters (bcm) of gas per year within
four to six months.
(Reporting by Ari Rabinovitch
Editing by Mark Potter)
Messaging: ari.rabinovitch@thomsonreuters.com@reuters.net))
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