Energean acquires Edison E&P
The deal expands Energean’s footprint in the Mediterranean, giving it assets in gas-rich Egypt and Algeria for the first time
Energean has expanded fast, from a small private start-up firm in Greece in 2007, to become a major East Med upstream player. It is developing the Karish and Tanin gas fields offshore Israel, with first gas scheduled to be delivered to power firms in the country in Q1 2021. Energean has commissioned its own floating production storage offloading facility—the first to operate in the East Med. It will operate 56 miles (90km) off the Israeli coast. This latest move consolidates its position in a major way. The London-based company is acquiring Edison E&P and its subsidiaries for $750mn, with an additional consideration of $100mn contingent on the commissioning of the Cassiopea gas project i
Also in this section
7 August 2025
Without US backing, the EU’s newest sanctions package against Russia—though not painless—is unlikely to have a significant impact on the country’s oil and gas revenues or its broader economy
6 August 2025
Diesel market disruptions have propelled crude prices above $100/bl twice in this century, and now oil teeters on the brink of another crude quality crisis
5 August 2025
After failed attempts to find a buyer for its stake in Russia’s largest oil producer, BP may be able to avoid the harsh treatment meted out to ExxonMobil and Shell when they exited—and could even restart operations if geopolitical conditions improve
1 August 2025
A number of companies have filed arbitration claims against Gazprom over non-deliveries of contracted gas or other matters—and won. The next step is to collect the award, but this is no easy task
