Greece's Energean Oil & Gas is tendering for a new $500m FPSO.

The company wants the unit for its $1.3bn Karish gas and condensate project off Israel.

The FPSO must be ready by 2020 when the first gas is pumped.

Energean chief executive Mathios Rigas told TradeWinds' sister publication Upstream:

"I think we will be looking to go to the market probably in the summer, towards the start of the third quarter. If we are able to contract yards soon we will get a lot better prices rather than waiting."