'Our flagship project Karish remains on track to deliver first gas in mid-2022 and we will spud the first well of our new
'This will position Energean to deliver an industry-leading, sustainable and meaningful dividend.
'On the ESG-front, we are on track to reduce CO2 emissions intensity by approximately 20% year-on-year and are advancing our plans to accelerate our 2050 net zero target. The pre-FEED at our 'Green Prinos' Carbon Capture and Storage project is progressing well and we are also investigating the feasibility of tying back a small scale eco-hydrogen project.'
Highlights
Average working interest production for the period was 42.6 kboed (72% gas), ahead of full year guidance
Production continued to exceed expectations across all countries of operation
Planned summer maintenance was successfully undertaken
Strong performance has led to an increase in the lower end of the range with guidance now 40 - 42 kboed (from 38 - 42 kboed)
Revenues for the period were
Energean is on track to deliver record full-year consolidated results with revenues in excess of
At
The Karish development remains on budget and is on track to deliver first gas in mid-2022
On
The FPSO, which is the critical path item in delivery of first gas, was 97.3% complete as of this date
New gas supply agreement ('GSA') signed with A2A in
Outlook
Full year production guidance range narrowed to 40 - 42 kboed (from 38 - 40 kboed)
Looking ahead, Energean has taken advantage of current strong European gas prices, hedging 17% of expected 2022 Italian gas production at approximately
Improved net debt / EBITDAX medium term guidance, now expected to be
(C) 2021 Electronic News Publishing, source