Energean Gas is operating a second line with a floating unit to boost its capacity.

- Energean, which focuses on gas production in the eastern Mediterranean, said on Wednesday it had completed the commissioning of a second oil production line on its floating vessel Energean Power, increasing the unit's liquids processing capacity by about 72 percent.


Here are some details:

  • Total liquids processing capacity increased to 31,000 barrels per day from 18,000 barrels per day on board the Energean Power floating production, storage and offloading (FPSO) unit.

  • This move contributes to increasing its share of revenues related to Brent crude prices, which are rising sharply amid the volatility caused by the Iran war.

  • Energean expects liquids production from Israel, a key region for the company, to average between 17,000 and 21,000 barrels per day in the second half of 2026, after averaging 10,000 barrels per day in the first half.

  • In May, Energean lowered its 2026 production and dividend forecasts after a 41-day shutdown of its operations in Israel negatively impacted its first-quarter results.