East Med needs less talk, more action – Energean CEO

Some operators are not committed to developing their gas resources, whether because they are too small or of lower priority, or because of geopolitical concerns, says Mathios Rigas

Unlocking the East Mediterranean’s substantial gas resources requires “less talk and more action”, Mathios Rigas, CEO of London- and Tel Aviv-listed Energean, told Petroleum Economist at the Gastech conference in Milan in September, urging governments to accelerate licensing and bring in committed operators. Energean has transformed from a small Greek-focused oil producer into one of the East Mediterranean’s leading gas companies within a decade, now producing 180,000boe/d of hydrocarbons, more than four-fifths of which is gas, mainly at Israel’s giant Karish offshore field. “For the last 15 years, everyone has talked about the East Med becoming a hub to produce gas not only for the region b