Publication of Annual Report 2017

RNS Number : 6407M

Energean Oil & Gas PLC

30 April 2018

 

For immediate release                                                                                                                                 30 April 2018

Energean Oil & Gas plc

("Energean" or the "Group")

Publication of Annual Report 2017

London, 30 April 2018 - Energean Oil & Gas has today published its IFRS Annual Report and accounts for the year ended 31 December 2017.

The full report is available for download on the Company's website at www.energean.com.

A copy of the report has also been submitted to the FCA's National Storage Mechanism and will shortly be available for inspection at http://www.morningstar.co.uk/uk/NSM.

Enquiries

Energean
Sotiris Chiotakis (Media Relations)	[phone]
Instinctif (PR/IR adviser to Energean):	[phone]
David Simonson
Laura Syrett
George Yeomans

About Energean Oil & Gas

Energean is a London premium-listed independent E&P company focused on the Eastern Mediterranean region, where it operates offshore Israel, Greece and the Adriatic. It is the only oil and gas producer in Greece and it and its predecessors have a combined 36-year history of operating offshore and onshore assets in environmentally sensitive areas. Energean employs 388 oil and gas professionals. The Group has 2P reserves of 51 MMbbls of oil and 6 Bcf of gas and 2C resources of 22.9 MMbbls of oil and 11.5 Bcf of gas at its Prinos Basin and Katakolo fields. Its subsidiary, Energean Israel, has 2C resources of 32.8 MMbbls of liquids and 2.4 Tcf of gas.

The Company received approval in August 2017 from the Israeli Government of the FDP for the Karish and Tanin fields, offshore Israel, aiming to use an FPSO and produce first gas in 2021. In March 2018, the Group proceeded with a Final Investment Decision on the Karish and Tanin leases. The Company is also pursuing an ongoing investment and development programme to increase production from the Prinos and Prinos North oil fields and develop the Epsilon oil field, located in the Gulf of Kavala, Northern Greece. The Company has secured a 25-year exploitation license for the Katakolo offshore block in Western Greece.

The Company also has significant exploration potential in the other licences held in offshore Israel, Western Greece, and Montenegro.

www.energean.com

 

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