The 41-day shutdown of Energean’s flagship 4.3tcf Karish project offshore Israel weighed heavily on the company’s first-quarter results, but the London-listed producer says an imminent increase in liquids production and continued progress on expansion projects should support a stronger performance in the second half of the year.
The company’s Israel gas production fell by 39% from the previous quarter to just 377mn cfd (0.96bcm), after the Israeli government ordered the shutdown on 28 February as a precaution during the early stages of the conflict with Iran (MEES, 6 March). Operations resumed on 9 April and output has since recovered, Energean said. (CONTINUED - 883 WORDS)
