Israel on Wednesday officially reported the new Katlan gas field that will be developed by Energean with an estimated deposit of 68 billion cubic meters of gas. The Energy Ministry said now that the 'Katlan' reserves have been approved, development can begin.
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This is the fourth largest gas field found since the last decade after the Leviathan, Tamar and Karish – Tanin, fields already in production.
Energean CEO Mathios Rigas said the company will begin developing Katlan soon, and in doing so "will open new opportunities for Israeli gas in the local and regional market."
Katlan is inside Israeli territorial waters, unlike the Aphrodite field which is only in a small part in Israeli waters and mostly in the economic waters of Cyprus, and the Qana field which is mostly in Lebanon.
Israel's maritime border agreement with Lebanon dealt with revenues Israel was to receive when Qana begins production.
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Lebanon former president Michel Aoun signs the Maritime border agreement with Israel in October, 2022
( Photo: AFP )
Israel's revenues from natural gas since drilling began, reached 20 billion shekel and in 2022, exceeded 1.7 billion shekel.