Business
Energean Israel 1Q 2021 Accounts
Energean Israel 1Q 2021 Accounts.
About this update from Energean Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 6496A\n Energean PLC\n 03 June 2021\n \n \n \n \n Energean plc\n \n \n (\"Energean\" or the \"Company\")\n \n \n \n \n \n \n \n \n Energean Israel Limited 1Q 2021 Consolidated Management Accounts\n \n \n \n \n \n \n \n \n \n London, 03 June 2021\n \n - Energean plc (LSE: ENOG, TASE: \n א\n ) is pleased to release Energean Israel Limited 1Q 2021 consolidated management accounts, publication of which is required under the terms of its $2.5 billion senior secured notes, issuance of which was completed on 24 March 2021. Energean plc shall release quarterly management accounts for Energean Israel Limited within 70 days of the close of each quarter and 120 days for its annual consolidated financial statements. \n \n \n \n \n \n Enquiries\n \n \n Kate Sloan, Head of IR, ECM and Communications +44 (0) 7917 608 645 \n \n \n \n \n \n \n \n \n About Energean plc\n \n \n \n \n \n Established in 2007, Energean is a London Premium Listed FTSE 250 and Tel Aviv 35 Listed E&P company with operations in nine 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.\n \n \n \n \n \n Energean's production comes mainly from the Abu Qir field in Egypt and fields in Southern Europe. The company's\n \n flagship project is the 3.5 Tcf Karish, Karish North and Tanin development, offshore Israel, where it intends to use the newbuild fully-owned FPSO Energean Power, which will be the only FPSO in the Eastern Mediterranean, to produce first gas, commencing mid-2022. Energean has signed contracts for 7.4 Bcm/yr of gas sales on plateau into the Israeli domestic market, which have floor pricing, take-or-pay and/or exclusivity provisions that largely insulate the project's revenues against global commodity price fluctuations and underpin Energean's goal of paying a meaningful and sustainable dividend.\n \n \n \n \n \n With a strong track record of growing reserves and resources, Energean is focused on maximisi...