Eastern Mediterranean-focused gas producer Energean has completed commissioning of a second oil train on its Energean Power floating vessel, it said on Wednesday, increasing the facility's liquids processing capacity by about 72 per cent.
Total liquids processing capacity increased to 31,000 barrels per day from 18,000 bpd on the Energean Power floating production, storage and offloading vessel.
The move also increases the share of its revenue linked to Brent crude prices, which have been sharply rising amid volatility due to the Iran war.
Energean expects liquids production from Israel, a key region for the company, to average 17,000-21,000 bpd in the second half of 2026, after averaging 10,000 bpd in the first half.
In May, Energean cut its 2026 production forecast and dividend after a 41-day shutdown of its Israeli operations hit its first-quarter results.
(Reporting by Amna Mariyam in Bengaluru; Editing by Mrigank Dhaniwala)