Energean plc is an international oil and gas exploration and production company. It is listed on the London Stock Exchange as well as the Tel Aviv Stock Exchange and is a constituent of the FTSE 250 Index.
In December 2016, Energean acquired 100 percent of the Karish and Tanin natural gas fields from Delek Drilling and Avner Oil for $148 million as required by the Israeli government in order to open the sector to competition. In March 2018, the company signed a $1.275 billion financing deal with Bank Hapoalim, Morgan Stanley, Societe Generale, and Natixis in order to develop Karish and Tanin.
In March 2019, the company reported that it had begun drilling for natural gas at Karish North in order to verify reserves estimated at up to 36 BCM on top of the already confirmed 67 BCM. In June 2019, Energean signed an agreement with Israel Natural Gas Lines Company to build the eastern segment of the Israeli gas transport system, consisting of an undersea segment 10 kilometers from the coast and a coastal land segment, for NIS 369 million.
In November 2019, the company said that its appraisal of the Karish North discovery had revealed 0.9 trillion cubic feet of recoverable natural gas resources plus 34 million barrels of light oil, a significant increase from its original estimate.
In January 2020, Energean signed a letter of understanding with DEPA, a Greek gas corporation, for the sale of up to 2 BCM of gas annually through the projected undersea gas pipeline to Europe, the construction of which is estimated to cost $9 billion.
Type: Public
Traded as: LSE: ENOG
Industry: Oil and gas
Founded: 2007; 13 years ago
Headquarters: Marousi, Athens, Greece
Website: www.energean.com
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