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LONDON - Energean plc (LSE:ENOG, TASE: אנאג) has received authorization from Israel’s Ministry of Energy and Infrastructure to restart production at its Energean Power FPSO (Floating Production Storage and Offloading) facility, the company announced Wednesday.
The London-based energy company stated it is now working to resume normal operations according to its established safety procedures. The announcement did not specify how long the facility had been offline or the reason for the production halt.
"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, Chief Executive Officer of Energean, in the press release statement.
The Energean Power FPSO is a key asset for the company’s operations in the Eastern Mediterranean region. The vessel is designed to produce natural gas from offshore fields.
Energean, listed on both the London Stock Exchange (LON:LSEG) and Tel Aviv Stock Exchange, focuses on natural gas production in the Mediterranean and Middle East regions.
The company provided no additional details regarding the timeline for full operational capacity or the financial impact of the production interruption.
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