Change of Name

RNS Number : 2870O

Energean PLC

29 May 2020

 

Energean plc (formally Energean Oil & Gas plc)

("Energean" or the "Company")

Change of Company Name

London, 29 May 2020 -  Energean (LSE: ENOG, TASE: א), the oil and gas producer focused on the Mediterranean, is pleased to announced that, following shareholder approval at the Annual General Meeting of the Company held on 21^st May 2020, it has changed its name from Energean Oil & Gas plc to Energean plc.

Energean retains its strong commitment to sustainable development and its ESG goals, regardless of the impact of the global COVID-19 pandemic, and is building on the commitment it made in December 2019 to becoming a net-zero carbon emitter by 2050. The Company's first target is to deliver a 70% reduction to its carbon emissions by 2022, by when it expects to have delivered first gas from its flagship Karish gas development and integrated the gas-weighted Edison E&P portfolio.

The ticker used on the London Stock Exchange of "ENOG" and the Tel-Aviv Stock Exchange of "א", ISIN and SEDOL remain unchanged.

Enquiries  

Investors and Analysts
Kate Sloan, Head of IR & ECM   Media	Tel: [phone]

Sotiris Chiotakis Tel: [phone]

About Energean plc

Energean is a London Premium-Listed FTSE 250 and Tel Aviv 35-Listed E&P company with operations offshore Israel, Greece and the Adriatic. In August 2017 the Company received Israeli Governmental approval for the FDP for its flagship Karish-Tanin gas development project, where it intends to use the only FPSO in the Eastern Mediterranean to produce first gas in 2021. Energean has already signed firm contracts for 5.6 Bcm/yr of gas sales into the Israeli domestic market. Future gas sales agreements will focus on both the growing Israeli domestic market and key export markets.

 Energean has nine exploration licences offshore Israel, and a 25-year exploitation licence for the Katakolo offshore block in Western Greece and additional exploration potential in its other licences in Western Greece and Montenegro.

On 4 July 2019, Energean announced the conditional acquisition of Edison E&P for $750 million plus $100 million of contingent consideration. On 23 December 2019, Energean announced the exclusion of the Algerian assets from the transaction. The acquisition of Edison E&P, exclusive of the Algerian assets and Norwegian subsidiary is expected to be finalised in 3Q 2020.

www.energean.com

 

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