Energean Boosts Output, Eyes Growth in Mediterranean & Africa

Energean, a leading energy company, reported a 35% increase in oil and gas output in Q3, keeping them on track to meet their 2025 production goals. Despite political challenges and a temporary shutdown in Israel, they averaged 151,000 barrels of oil equivalent per day. The company generated $828 million in adjusted earnings and formed a new partnership with ExxonMobil for Greeces deepwater exploration. Energeans production costs remained low at $6 per barrel, and they improved safety and emissions performance. Israel remains a key operation, contributing 109,000 barrels of oil equivalent per day. Looking ahead, Energean plans major activities at their Katlan project and is exploring new opportunities in West Africa.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.