Energean is delighted to confirm the first ever lifting of an Israeli crude oil cargo has taken place at the Company’s Karish field. For the first time in the history of Israeli oil & gas production, hydrocarbon liquids will be exported to global markets.

Utilising the regionally unique liquids storage and offloading capability of the FPSO "Energean Power", the liquids are offloaded in a controlled manner and sold into various global markets.

This creates a significant differentiated income stream, fundamentally separate to gas derived revenues. The cargo has been sold as part of a multi cargo marketing agreement with Vitol; the first of a new source of East Med energy to reach Europe.

Nick Witney, Energean Group Commercial Director, said:
"While we remain a gas focused company, with our Israeli gas production central to our role in enabling the energy transition, light, sweet crude oil responsibly produced from modern, low carbon intensity facilities is very much in demand, globally.”

Mathios Rigas, Energean CEO, said:
“We are happy and proud that Energean has facilitated Israel joining the club of international oil exporters. This is another milestone for us, enhancing Energean’s growth as a significant player in the local and regional markets.”

About Energean

Energean (LSE: ENOG, TASE: אנאג) is a London Premium Listed FTSE 250 and Tel Aviv Listed E&P company with operations in eight countries across the Mediterranean and UK North Sea. Since IPO, Energean has grown to become the leading independent, gas-focused E&P company in the Eastern Mediterranean, with a strong production and development growth profile. The Company explores and invests in new ideas, concepts and solutions to produce and develop energy efficiently, at low cost and with a low carbon footprint.