Filenews 14 February 2023
A new milestone was reached in Energean's journey through the Eastern Mediterranean, which is also of historic importance to Israel, as for the first time the country exports crude oil in its history.
In particular, with the use of the storage facilities and unloading infrastructure of the FPSO "Energean Power", the liquid hydrocarbons produced by the Karish deposit were unloaded safely onto an oil tanker, heading towards international markets. The cargo was sold as part of a broader agreement with Vitol and is the first export of energy from a new source in the Eastern Mediterranean, which also generates an additional revenue for Energean.
Mathios Rigas, CEO of Energean Group, stated:
"We are very pleased and proud that Energean has contributed to Israel's entry into the club of oil exporters in international markets. This is another milestone that reinforces Energean's growth trajectory as a major player in local and regional markets."
Nick Witney, Commercial Director of the Energean Group, added: "We remain focused on natural gas and our production in Israel plays a central role in the energy transition. However, lightweight, good quality crude oil produced by modern and low-carbon infrastructure, such as "Energean Power", is in increased demand internationally."
It is noted that, in the full development of its infrastructure, "Energean Power" will have a production capacity of 32,000 barrels of liquid hydrocarbons per day.
