Energean

Gas producer Energean reported higher first-half profit on Wednesday, helped by a rise in production due to strong summer demand in Israel, which accounts for more than 70% of total output.

The company is looking to expand in Europe, the Middle East and Africa, particularly where there is long-term policy support for gas and displacement of coal.

The Prinos oil field in northern Greece can capture 3 million tons of carbon dioxide a year, three times the amount envisaged in an initial study.

Energean will proceeding with studies on how to expand the field's capture potential. This was decided at a meeting in Athens, where managers from Energean, EnEarth and Halliburton, one of the largest global advisers of energy firms.

Greek energy company Energean on Thursday announced an agreement to sell its portfolio in Egypt, Italy and Croatia to Carlyle International Energy Partners for a price of up to $945 million (880 million euros) and not less than $820 million (€763 million).

Energean announced an agreement to sell its portfolio in Egypt, Italy and Croatia to Carlyle International Energy Partners for a price of up to 945 million dollars and not less than 820 million dollars.

The price according to Energean is more than three times the cost of acquiring the specific assets from Edison which was 284 million dollars in 2020.

Energean informed the London and Tel Aviv stock exchanges on Thursday about its sixth natural gas field discovery in the Eastern Mediterranean, in Egypt.

The initial estimate is that the new discovery contains 87-129 billion cubic feet of natural gas and is scheduled to come into production during the third quarter of the year.

Energean on Thursday announced that the government of Israel had approved the first phase of a development plan for the Katlan gas field.

Energean said this field could be used for exports to neighboring countries if the Israeli government approved such licenses.

Energean announced on Thursday that by September 2023 it will submit a comprehensive program for the exploitation of the deposits of the "Olympus Area" of the Israeli exclusive economic zone to the Israeli government for approval, so as to begin its implementation in early 2024.

The first solid data from seismic research conducted in the Ionian Sea and the sea region west-southwest of Crete will be available by the end of 2023 and this data will be the basis on which a decision on whether to carry out exploratory drilling will be made, hydrocarbon industry sources said on Monday.

The first reliable findings from seismic research in the Ionian Sea and an area west-southwest off the coast of Crete will be available by the end of 2023 and this data will determine whether exploratory drilling will be carried out, hydrocarbon industry sources said on Monday.

Gas producer Energean is looking at options to increase the capacity of its floating production storage and offloading (FPSO) vessel off Israel to 12 billion cubic meters (bcm) a year, CEO Mathios Rigas told Reuters on Thursday.