Energean Oil and Gas plc, the independent gas and oil exploration and production company focused on the Mediterranean, is pleased to announce that the Energean Power FPSO hull has undocked and floated out from the COSCO Shipyards’ dock at Zhoushan, China, approximately 10 months after first steel cut.

This development also marks a significant HSE milestone for the Company, as the build was completed ahead of schedule and with no LTI’s in approximately 3 million working man hours under TechnipFMCs management of the project.

The Energean Power FPSO hull will remain at the Shipyards’ berth for additional construction works, and its sailaway to Sembcorp Marine’s Admiralty Yard in Singapore for the integration of the topsides is planned later in 4Q. The Karish Development project remains on track and on budget to deliver first gas in 1Q 2021.

About Energean

Energean (LSE: ENOG), is a London Premium Listed FTSE 250 and Tel Aviv Listed E&P company with operations offshore Israel, Greece and the Adriatic. Energean has 347 mmboe of 2P reserves and 58 mmboe of 2C resources across its portfolio.
The company made a Final Investment Decision (FID) in March 2018 for its flagship Karish-Tanin gas development project, where it intends to use the only FPSO in the Eastern Mediterranean to produce first gas in 2021. Energean has already signed firm contracts for 4.2 bcma of gas sales into the Israeli domestic market. Future gas sales agreements will focus on both the growing Israeli domestic market and key export markets in the region. In Greece, the Company is pursuing an ongoing investment and development programme to increase production from its Prinos, Prinos North and Epsilon oil fields, located in the Gulf of Kavala, Northern Greece.
Energean has five exploration licences offshore Israel, and a 25 year exploitation licence for the Katakolo offshore block in Western Greece and additional exploration potential in its other licences in Western Greece and Montenegro.