Energean

Energean (LSE: ENOG, TASE: ???? ) is a FTSE-250 E&P company focusing on the sustainable development of the natural resources in the Mediterranean where i.t has 558 mmboe reserves and resources.The Company has committed to become a net zero emitter by 2050 and strives to meet the UN 17 Sustainable Development Goals. Energean is also a proud signatory of the UN Global Compact In July 2019, the Company agreed to buy Edison E&P, thus it becomes one of the largest independent E&P companies in Europe. Energean Israel, a company in which Energean holds 70%, owns 100% of the Karish and Tanin offshore fields in Israel which contain 2.2 TCF of natural gas independently audited 2P reserves, plus 0.2 TCF gas 2C resources. ?he Company will develop the fields with an FPSO which will be ready to produce gas in 1H 2021. In April 2019, the Company discovered the Karish North gas field (0.9 TCF recoverable resources ) and has also further upside potential from the Karish and Tanin fields and the nine exploration licences it holds in the Israeli EEZ. Energean is the only hydrocarbons producer in Greece, operating the Prinos Concession in which 54 mmboe 2P have been audited independently. Energean has also secured a 25-year exploitation license for the West Katakolo offshore proven hydrocarbons field, Western Greece, which has 14 mmboe independently audited 2P reserves. Moreover, the company holds a 40% WI in the Ioannina and Aitoloakarnania onshore blocks, Western Greece, where Repsol as the Operator holds a 60% WI. Enegrean also holds a licence for oil & gas exploration and production in two blocks offshore Montenegro. Energean employs almost 400 dedicated oil & gas professionals with significant in house expertise in all kind of offshore and onshore operations. Energean operates assets that have been producing hydrocarbons for 39 years in a high H2S environment with an excellent track record, next to traditional tourist destinations and environmentally sensitive areas.