Energean Eyes Doubling Gas Output by 2025

Energean, the UK-based gas producer, aims to significantly boost its production primarily from its key market in Israel by 2025. With a focus on new developments such as the Katlan field, the company anticipates production to rise from 114,000 boepd in 2024 to 120,000-130,000 boepd in 2025.

Energean announced on Thursday its expectation of increased production in 2025, as the UK-based gas producer leverages rising sales in Israel, its primary market.

The firm, with significant output from an offshore facility in Israel, has set ambitious goals to double its production, focusing on developments including the Katlan field. Their production in 2024 was 114,000 barrels of oil equivalent per day, with 112,000 boepd originating from Israel.

Energean projects an increase to 120,000-130,000 boepd in 2025. CEO Mathios Rigas highlighted over $4 billion in new long-term gas sales agreements in Israel, citing growing regional demand due to increased electricity needs and coal phase-out, positioning the firm for further sales growth through additional agreements, potentially including export contracts.

(With inputs from agencies.)