Mathios Rigas

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.

London-based Greek-owned company Energean completed its acquisition of Edison Exploration & Production SpA from Edison SpA, it said on Thursday, with a final net consideration of $203 million.

Europe's oil and gas sector is building up a crowded pipeline for stock market flotations, but investor appetite is limited given painful experiences after the last oil price crash and a backlash against fossil fuels.
Greek group Energean was one of a handful of energy companies to list in London in recent years, betting on Israeli gas production and long-term offtake agreements.

Energean is seeking approval from Cyprus for the Greek oil and gas firm to build a pipeline from its Israeli offshore gas fields and import 0.5 to 1 billion cubic meters of gas a year to the island, Energean's chief executive said on Thursday.

Freshly London-listed Energean Oil & Gas is boosting its Greek output and expects first gas from its Israeli fields in the first quarter of 2021, making it one of the biggest independent energy firms operating in the Eastern Mediterranean.

Greek energy firm Energean has secured $1.25 billion in funding for the development of two natural gas fields off the coast of Israel, the company's chief executive said on Tuesday.

Greek oil company Energean said on Thursday it has secured a $180 million loan from the European Bank for Reconstruction and Development (EBRD) and other banks to develop the Prinos oil field in the northern Aegean.

It has also agreed a deal for an extension to the existing $75 million EBRD loan facility.

Energean, Greece's sole oil producer, said on Friday it had secured approval to develop the Kataloko field in Western Greece, its third such project in the Eastern Mediterranean.

Greece’s Energean Oil & Gas announced on August 30 that its subsidiary Energean Israel, a 50/50 joint venture between Energean and Kerogen Capital, has received approval from the Israeli Petroleum Commissioner for its Field Development Plan (FDP) for the development of the Karish and Tanin natural gas fields, offshore Israel. The FDP application was submitted on 20 June 2017.

In a move aimed at increasing competition in the Israeli electricity sector, Greek developer Energean Oil & Gas has secured its first gas supply deals for Israel’s Karish and Tanin reservoirs.