Energean
plc
("Energean" or the
"Company")
Start-up of Cassiopea in
Italy
London, 19 August 2024 -
Energean plc (LSE: ENOG, TASE: אנאג) is pleased to confirm the
successful start-up of the Cassiopea field, offshore
Italy.
Currently, initial test production
is from one of the four subsea wells. The remainder of the wells
and associated facilities are expected to be brought online, tested
and commissioned over the coming months.
The Cassiopea gas development (Eni
60% operator; Energean 40%), located offshore Italy, contains
approximately 10 bcm[1] of gross reserves
with gross annual production expected to peak at around 1.5
bcm1. This field is part of the portfolio that is in the
process of being sold to an entity controlled by Carlyle
International Energy Partners ("Carlyle").
Mathios Rigas, Chief Executive Officer of Energean,
commented:
"This news, while not part of the
future Energean story, represents the positive involvement of
Energean in yet another successful gas development. Energean has
always been focused on the development of strategically important
resources that supports both energy security and broader
socioeconomic stability."
Enquiries
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For capital
markets: ir@energean.com
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Kyrah McKenzie, Investor Relations
Manager
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Tel: +44 (0) 7921 210 862
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For media: pblewer@energean.com
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Paddy Blewer, Corporate Communications Director & Head of CSR
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Tel: +44 (0) 7765 250 857
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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.