Energean's history

From a small Greek oil producer to the leading gas focused E&P firm in the Greater Mediterranean, Energean has as consistently reinvented itself over 15 years+

2024

  1. Continued increase in group production significantly in advance of 150k boepd
  2. Founded EnEearth, specialist decarbonisation. Significant progress on Prinos CO2 carbon storage - €150m funding approved by European Comission.

2023

  1. Group production increased to a maximum of 150k boepd
  2. Continuous positive development at core operations at Karish, offshore Israel
  3. European Commission awards Prinos CO2 “Project of Common Interest”. Prinos CO2 awarded €150m in funding by Greek Government & EU
  4. Egyptian operations advanced: spud of Orion well & NEA/NI online

2022

  1. Maiden quarterly dividend announced
  2. Energean Power FPSO left Singapore and arrived on location in June 2022
  3. Multiple commercial discoveries of gas offshore Israel. The Athena and Zeus discoveries have derisked the wider “Olympus Area”
  4. First gas achieved at Karish

2021

  1. Significant progress on Karish project: engineering completed, confirming production for 2022 as per plan
  2. FID taken on the 1.2 Tcf (33 Bcm) Karish North field & 2nd oil train & gas riser on FPSO
  3. Sanctioned the North East Almeyra (“NEA”)/North Idku (“NI”) project, shallow-water offshore Egypt; known as NEA/NI
  4. Publication of maiden Climate Change Policy. Implemented a zero routine flaring policy across operated sites & rolled out 'Green electricity' in Israel, Greece and Italy - led to a 100% decrease y-o-y in Scope 2 emissions intensity at operated sites

2020

  1. Carbon emissions intensity reduced by 69% compared with 2019
  2. Acquisition of Edison E&P completed
  3. Won Petroleum Economist Award for Transition Energy Strategy
  4. Firm gas sales contracts reach 7.4 BCM per year
  5. Karish pipe laying and subsea systems installation completed, offshore Israel
  6. 'Energean Power' FPSO leaves China and arrives in Singapore for the integration of the topsides

2019

  1. First E&P to commit to net zero emissions by 2050
  2. Edison E&P acquisition announced  
  3. Karish North discovered 
  4. Production from the Epsilon field, Northern Greece, commences

2018

  1. Won Deal of the Year, Oil & Gas Company of the Year and Executive of the Year at the Oil and Gas Council’s "Awards of Excellence" ceremony
  2. Won “Energy Company of the Year- Small Cap” at the Petroleum Economist Awards
  3. Cut first steel on the "Energean Power" FPSO
  4. Started trading on the Tel Aviv Stock Exchange
  5. Took FID on Karish & Tanin Gas Project
  6. Started trading on the main market of the London Stock Exchange
  7. Signed US$1.275bn Facility Agreement with four international Banks to finance the Karish Development Project

2017

  1. Awarded five exploration licences, offshore Israel
  2. Energean signs agreements to supply natural gas from Karish and Tanin to ICL, Bazan, OPC, Dalia, Edeltech and Rapac groups, in Israel
  3. The Israeli Government approved FDP for the Karish and Tanin fields
  4. Signed Concession Contract for two offshore blocks, Montenegro
  5. Appointed TechnipFMC as EPCIC contractor for Karish & Tanin development, offshore Israel

2016

  1. Acquired 100% interest in Karish & Tanin fields, offshore Israel, from Delek Drilling and Avner
  2. Secured exploitation license for West Katakolon offshore block in Western Greece
  3. EBRD supports Energean’ s exploration projects with US$20 million loan and provides US$75m Reserve Based financing for Energean’s US$200m investment programme in Greece

2015

  1. Completed first FTG survey ever to be conducted in Greece, over Ioannina onshore block.
  2. Completed 3D seismic survey in the Prinos Oil Field
  3. Commenced new investment programme in Egypt

2014

  1. Signed offtake agreement with BP for Prinos oil production
  2. Greek Parliament ratified Licence Agreements for Ioannina and Katakolon blocks, Western Greece.
  3. Purchased new rig, Energean Force, and commences investment programme in Kavala, North-West Greece
  4. Announced 10 per cent increase in recoverable oil reserves at Gulf of Kavala

2013

  1. Karish field, offshore Israel, discovered by Noble
  2. Third Point invested $60 million in Energean Oil & Gas as equity supporter
  3. Greek Parliament ratified a 25-year extension of the Prinos licenses.

2012

  1. Tanin Field, offshore Israel, discovered by Noble.
  2. Participated in the Greek Open Door Invitation, targeting specifically the areas of Ioannina and Katakolo.

2011

  1. Commenced 3-year exploration period in West Kom Ombo concession, Egypt
  2. Completed well PA-35 at Prinos

2010

  1. Successfully completed well EA-H1 on Epsilon Field
  2. Completed farm-in Agreement with Groundstar Resources Egypt, for the West Kom Ombo Block, Upper Egypt
  3. Initiated new drilling operation to increase production from Prinos

2009

  1. Completed the drilling of PNA-H1 well in the Prinos North Field
  2. Jack-Up rig Energy Exerter arrives in Kavala.
  3. Commenced second phase of drilling operations in the Epsilon field

2008

  1. Achieved extension of the concession licence for the Prinos oil field area
  2. Initiated new drilling and development plan for Prinos North and Epsilon structures, Greece

2007

  1. Announced the purchase of 100 per cent Eurotech’s shares, majority shareholder of Kavala Oil S.A