London and Tel Aviv-listed Energean’s first-half results, released on 9 September, provided the clearest picture yet of its recovery following the 41-day shutdown of the Energean Power FPSO, which processes oil and gas from its 4.3tcf Karish project offshore Israel. They also came as the company prepares to firm up its indicative bid for most of BP’s Egyptian upstream portfolio (MEES 4 September).
MEES calculations based on Energean’s filings put Q2 Israel output at 96,000 boe/d, up 23% from 78,000 boe/d in Q1, when Karish was shut from 28 February until early April (MEES, 17 April). Gas output rose 22% to 1.17bcm (around 455mn cfd), while oil production more than doubled to 14,800 b/d, lifting oil’s share of Karish output to 15% from 8% in Q1. (CONTINUED - 856 WORDS)
