Energean has received official approval from the Israeli Ministry of Energy and Infrastructure to restart operations at its Energean Power FPSO (Floating Production, Storage and Offloading) unit, located at the Karish offshore gas field. This development follows the June 24 ceasefire agreement that de-escalated tensions between Israel and Iran, which had previously led to the temporary suspension of production.

Background: Production Halt Due to Regional Conflict

Earlier in June, Energean was directed by the Israeli government to halt operations at the Karish field in response to heightened geopolitical tensions and security concerns stemming from the Israel-Iran conflict. The precautionary measure was implemented to protect personnel and infrastructure during a period of elevated risk.

Production Restart Underway

Following the ceasefire and improved security conditions, Energean has initiated procedures to safely restart gas production. The company is coordinating closely with Israeli authorities to ensure that operations resume in full compliance with safety and regulatory protocols.

"We look forward to bringing production safely back online, in full coordination with the authorities, to deliver energy security to Israel and the broader region," said Mathios Rigas, CEO of Energean.

He also acknowledged the team’s dedication and professionalism, emphasizing Energean’s continued role in regional energy stability.

Strategic Significance of Karish Field

The Karish field is a key natural gas resource for Israel, located approximately 90 kilometers off the Israeli coast. Operated via the Energean Power FPSO, the project plays a critical role in supporting Israel’s energy independence and bolstering its domestic gas supply.

The field had only recently begun ramping up production in late 2022 and is expected to contribute significantly to Israel’s energy mix. Its temporary shutdown underscored the vulnerability of regional energy infrastructure to geopolitical conflict.

Regional Energy Implications

The safe resumption of operations at Karish is expected to:

• Restore a crucial supply of natural gas to Israel’s grid

• Stabilize domestic and export commitments

• Reinforce investor confidence in Energean’s regional operations

Energean remains committed to ensuring operational resilience while contributing to energy security in the Eastern Mediterranean.

Connect with Key Stakeholders in the Israel Oil and Gas Sector for Strategic Business Growth.

Subscribe to our Israel Oil and Gas Market Report to gain reliable and up-to-date insights on exploration, production, infrastructure projects, policy changes, and investment opportunities across the Israeli energy landscape.

Start your free demo today and unlock new business potential in Israel’s dynamic energy market!