Activity stepping up at Energean field development projects in eastern Mediterranean

Energean has issued updates on its various development and exploration programs in the eastern Mediterranean Sea.

Highlights this year will include development drilling and offshore infrastructure installation for the Katlan and Irena gas projects offshore Israel and Croatia, both expected to start up in the first half of 2027.

Late in 2026, the company could spud a high-impact exploration well on Block 2 offshore Greece, in which ExxonMobil recently agreed to acquire a 60% interest.

Energean also plans to mature other high-potential exploration targets in Israel and Egypt and to assess new M&A opportunities, notably in West Africa.

At the Cassiopea field offshore southern Italy, operated by Eni, asset performance has been below expectations, Energean added, leading to a downgrading of remaining reserves.