Business
2022 Full Year Results
2022 Full Year Results.
About this update from Energean Plc
[{"type":"text","content":"\n \n \n \n \n \n \n \n \n \n \n \n \n \n Energean plc\n \n \n \n \n (\"Energean\" or the \"Company\")\n \n \n \n \n \n \n \n \n \n 2022 Full Year Results\n \n \n \n \n \n \n \n \n \n London, 23 March 2023\n \n - Energean plc (LSE: ENOG, TASE: א) is pleased to announce its audited full-year results for the year ended 31 December 2022 (\"\n \n FY 2022\n \n \").\n \n \n \n \n \n \n Mathios Rigas, Chief Executive of Energean, commented:\n \n \n \n \"\n 2022 was a year of transformation for Energean - where a long-held vision became an operational reality. It was a year of positive delivery. We commenced production from the only FPSO in the strategically vital Eastern Mediterranean region, paid dividends to our shareholders, and laid the foundation for our future growth through the discovery and de-risking of new natural gas resources adjacent to our infrastructure. Energean was the sole owner-operator of five deepwater wells, which drove a 20% increase in our reserve base, and marked the 15th consecutive year of reserve and resource base increases for Energean. We are proud to be on track to deliver between 4.5 and 5.5 bcm of gas into the Israeli domestic gas market this year, contributing towards the security of energy supply of the region and improving the living conditions of the Israeli public through the reduction of emissions from the displacement of coal-fired power generation.\n \n \n \"The first quarter of 2023 has continued the positive trend. Production from Karish is in line with our expectations, and in February we supplied the first Israeli hydrocarbon liquids export cargo to international markets. In Egypt, we achieved first gas at NEA/NI with three further wells due to come onstream during the year. In Italy, we are the third largest producer of natural gas and look forward to increasing our contribution towards the country's energy supply. And in Greece, we are continuing our efforts to explore the untapped resources of the country.\n \n \n \"The remainder of 2023 will see us present the development concept for the Olympus Area, offshore Israel, and increase the capacity of the Energean Power FPSO to 8 bcm/yr. This is alongside delivery of production in line with guidance plus on-target returns, as promised, to our shareholder base. Through our gas contracting strategy we are in ...