Karish Update - FPSO Arrival In Israel

 

 

 

 Energean plc

("Energean" or the "Company")

 

Karish Update - FPSO Arrival In Israel

London, 6 June 2022 - Energean plc (LSE: ENOG, TASE: א) is pleased to announce that the Energean Power FPSO has arrived on location in Israel.

The FPSO was transported by two tugs from Sembcorp Marine's Admiralty Yard in Singapore to Israel. The 5,532 nautical mile-long journey took 35 days, crossing six seas and passing through the Suez Canal.

Energean will immediately commence hook-up and commissioning operations, which includes risers and jumpers installation as well as the commissioning of the sales gas pipeline. Energean expects approximately three - four months of commissioning before first gas, which remains on track for Q3 this year.

Mathios Rigas, Chief Executive Officer of Energean, commented:

"I am delighted to confirm that the Energean Power FPSO has arrived on location in Israel. This marks a major step forward in delivering first gas from Karish which remains on track for Q3 2022. We look forward to continuing our progress through Karish first gas, the commercialisation of the newly defined Olympus Area and contributing to energy security and competition of supply for the region."

 

Enquiries

 

For capital markets: ir@energean.com

 

Maria Martin, Head of Corporate Finance   Tel: +44 7917 573 354

 

For media: pblewer@energean.com

 

Paddy Blewer, Head of Corporate Communications  Tel: +44 7765 250 857

 

Forward looking statements

This announcement contains statements that are, or are deemed to be, forward-looking statements. In some instances, forward-looking statements can be identified by the use of terms such as "projects", "forecasts", "on track", "anticipates", "expects", "believes", "intends", "may", "will", or "should" or, in each case, their negative or other variations or comparable terminology. Forward-looking statements are subject to a number of known and unknown risks and uncertainties that may cause actual results and events to differ materially from those expressed in or implied by such forward-looking statements, including, but not limited to: general economic and business conditions; demand for the Company's products and services; competitive factors in the industries in which the Company operates; exchange rate fluctuations; legislative, fiscal and regulatory developments; political risks; terrorism, acts of war and pandemics; changes in law and legal interpretations; and the impact of technological change. Forward-looking statements speak only as of the date of such statements and, except as required by applicable law, the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise. The information contained in this announcement is subject to change without notice.