Energean expands FPSO capacity as testing ramps up

(Sharecast News) - Exploration and production firm Energean said on Wednesday that commissioning of a second oil train on the Energean Power FPSO was completed on 13 July, lifting total liquids processing capacity from 18,000 barrels per day to 31,000 bbl/d and increasing its share of revenues linked to Brent pricing. Energean said liquids output had been successfully tested at rates of up to 21,000 bbl/d, with further testing at higher rates expected in August once Katlan‑related subsea tie‑ins have finished.

The FTSE 250-listed firm stated liquids production from Israel averaged 10,000 bbl/d in the first half and was expected to average 17,000 to 21,000 bbl/d in the second half, in line with guidance.

Energean added that the milestone strengthened its position as Israel's largest liquids producer and further boosted Brent‑linked revenue exposure.

As of 0930 BST, Energean shares were up 3.4% at 805p.









Reporting by Iain Gilbert at Sharecast.com

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