Energean Oil & Gas
Energean is an international oil & gas Exploration & Production company focusing on the SE. Mediterranean and Africa.
It is the only hydrocarbons producer in Greece, operating the areas of Prinos and South Kavala with 115 million barrels of oil and 850 million m3 of natural gas total production from 1981 until now.
The company holds 5 E&P;licenses in Greece and Egypt. It has been exploring Ioannina onshore and Katakolo offshore blocks in Western Greece and has also been selected as a preferred bidder for the Aitoloakarnania onshore block in the same area.
Moreover, it plans to drill 2 exploration wells by Q1, 2017 in the West Kom Ombo onshore block, Upper Egypt.
Energean has also been awarded 2 offshore blocks in Montenegro (subject to parliamentary approval).
The company also bought the Karish and Tanin offshore fields with 2,1 TCF of natural gas (2C) and will proceed with a Full Development Plan after the final approvals by the relevant Israeli authorities are granted.
The company has a very strong shareholder base, with petroleum engineers, executives of the financing sector and the US based fund Third Point LLC among them.
Energean employs more than 450 dedicated oil & gas professionals with significant in house expertise in Exploration, Drilling and Production stages and Reservoir Management as well as in Onshore & Offshore operations.
It's cash flow is guaranteed by the off-take agreement with BP for the entire oil production from Prinos.
Energean operates assets that have been producing hydrocarbons for 35 years in a high H2S environment with an impeccable track record, next to traditional tourist destinations and environmentally sensitive areas.