Second Oil Train Boosts Brent-Linked Liquid Output

Energean PLC

22 July 2026

 

 Energean plc

("Energean" or the "Company")

Second oil train increases Brent-linked liquids output

London, 22 July 2026 - Energean plc (LSE: ENOG, TASE: אנאג) is pleased to announce that commissioning of the second oil train on its Energean Power FPSO was safely completed on 13 July 2026, expanding the FPSO's total liquids processing capacity from 18 kbbl/d to 31 kbbl/d and further increasing the proportion of the Company's revenues linked to Brent pricing.

·      FPSO total liquids processing capacity increased from 18 kbbl/d to 31 kbbl/d;

·      Liquids production successfully tested at rates of up to 21 kbbl/d;

·      Following completion of certain Katlan-related subsea tie-in activities, the FPSO is expected to undergo testing at higher liquids production rates in August 2026;

·      Liquids production from Israel averaged 10 kbbl/d in H1 2026[1] and, in line with Energean's 2026 guidance, is expected to average 17-21 kbbl/d in H2 2026[2];

·      This milestone further strengthens Energean's position as Israel's largest liquids producer and increases the proportion of the Company's revenues linked to Brent pricing.

Enquiries

For capital markets:
Kyrah McKenzie, Investor Relations Manager	Tel: [phone]
[e-mail]
For media:
Adonis Seferlis, CEO Office Communications Manager	Tel: [phone]
[e-mail]
Ben Brewerton, FTI Consulting	Tel: [phone]
[e-mail]

Forward looking statements

This announcement contains statements that are, or are deemed to be, forward-looking statements. In some instances, forward-looking statements can be identified by the use of terms such as "projects", "forecasts", "on track", "anticipates", "expects", "believes", "intends", "may", "will", or "should" or, in each case, their negative or other variations or comparable terminology. Forward-looking statements are subject to a number of known and unknown risks and uncertainties that may cause actual results and events to differ materially from those expressed in or implied by such forward-looking statements, including, but not limited to: general economic and business conditions; demand for the Company's products and services; competitive factors in the industries in which the Company operates; exchange rate fluctuations; legislative, fiscal and regulatory developments; political risks; terrorism, acts of war and pandemics; changes in law and legal interpretations; and the impact of technological change. Forward-looking statements speak only as of the date of such statements and, except as required by applicable law, the Company undertakes no obligation to update or revise publicly any forward looking statements, whether as a result of new information, future events or otherwise. The information contained in this announcement is subject to change without notice.

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[1] Production in Israel was temporarily suspended for 41 days between 28 February and 9 April 2026, following a directive from the Ministry of Energy and Infrastructure due to regional geopolitical developments. Excluding this shutdown, Israel liquids production averaged 13 kbbl/d in H1 2026.

[2] Reflects planned shutdowns for Katlan-related activity and maintenance. 

 

END