Energean Gas is operating a second line with a floating unit to boost its capacity.
July 22 (Reuters) - 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.
