Energean Group production has returned to levels of over 150,000 barrels of oil equivalent (boed) per day

Energean Group production has now returned to levels of over 150,000 barrels of oil equivalent (boed) per day, of which 84% is natural gas, following the resumption of the FPSO Energean Power in Israel, after a 41-day outage due to geopolitical unrest in the region.

Energean expects an immediate increase in oil production in Israel with the operation of the second processing unit, is proceeding according to the plan with the development of the Katlan natural gas fields in Israel, which can also be used for exports, and Irena in Croatia, while it has launched two exploratory drilling wells, one in Block 2 in the Northwest Ionian Sea in February 2027, and one in Egypt in the East Bir El Nus onshore area next month.

It is also worth noting that Energean collected 125 million euros in previous debts from Egypt during the first quarter, a development that strengthened its cash reserves.
Mathios Rigas, CEO of Energean, stated: “Our 18-year reserve life and 20 billion dollar of long-term contracted gas revenues over 20 years create a strong financial foundation that supports Energean’s growth prospects. Despite recent events, the company has demonstrated its resilience, as demonstrated by robust liquidity and strong operating performance across the Group.”

amna.gr