Energean

Energean reports higher first-half profit, eyes expansion in Europe, Middle East and Africa

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.

Prinos oil field can capture 3 mln tons of CO2 a year

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.

Energean to sell portfolio in Egypt, Italy, Croatia to Carlyle International Energy Partners

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.

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