Source: Energean has loaded a new oil unit on a vessel off Israel

Ron Bousso

LONDON, October 25 - Energean added a second unit of oil production to a production vessel that is floating off Israel. This will boost the crude production by as much as two-thirds over the next few months, according to an industry source.

Recent days, the M10 oil train modules was lifted onto the Energean Power floating storage and offloading vessel (FPSO), which produces primarily natural gas for the Israeli domestic market from the Karish Field.

The source stated that installation and commissioning of the module could take up to 6 months. The module will boost oil production from 15,000 barrels per day to between 20,000 and 25,000 barrels a day.

Energean produced 146,000 boed (barrels of oil-equivalent) in the first half of the year. It plans to double production over the next few years, with the development of new prospects, such as the Katlan oil field, in Israel.

Karish's production, located near Israel's maritime border to Lebanon, has been mostly uninterrupted since the Middle East conflict began on October 7. The Israeli military claimed that it shot down a drone from Lebanon, which was allegedly heading for the Energean FPSO.

In June, the company agreed to sell its assets located in Egypt and Italy to Carlyle Fund for up to 945 million dollars. (Reporting and editing by Tomaszjanowski)

(source: Reuters)