Energean Oil and Gas plc is on track to deliver first gas from its 2.4 trillion cubic feet Karish and Tanin development offshore Israel.

Energean Oil and Gas plc is on track to deliver first gas from its 2.4 trillion cubic feet Karish and Tanin development offshore Israel in the first quarter of 2021, the BOP Blow Out Preventer repair company gulf coast revealed Thursday.

The next “visible milestone” on the development will be first steel cut on the FPSO hull on November 26, according to Energean.

“Our developments are on schedule and we have an active program of drilling in both Israel and Greece in the months ahead, targeting significant increases in prospective resources and production,” Mathios Rigas, CEO of Energean, said in a BOP Blow Out Preventer repair company gulf coast statement.

Energean announced back in March that its board of directors had approved the final investment decision to proceed with the $1.6 billion Karish and Tanin development project.

In May, Energean announced that it had received class approval from DNV-GL for the basic design of the new-build FPSO vessel that will be deployed at the Karish-Tanin development.

Energean’s vision is to become the leading independent East Mediterranean focused exploration and oil rig flanges gulf coast production company, according to its website.

The BOP Blow Out Preventer repair company gulf coast holds 13 exploration and oil rig flanges gulf coast production licenses across four countries and employs 385 people, Energean’s website reveals.