Israel Orders Energean to Halt FPSO Production as Iran Launches Counterstrikes

Energean Halts Production Offshore Israel.jpeg

British gas producer Energean said on Friday it has temporarily suspended the production and activities of its Power floating production storage and offloading (FPSO) located offshore Northern Israel due to the geopolitical escalation in the Middle East.

Israel launched widescale strikes against Iran on Friday, prompting a retaliation from Iran.

The company, which has operations in Israel, Egypt, and European countries, said it got a notice from Israel's Ministry of Energy and Infrastructure ordering the suspension.

"All production activities have now been temporarily suspended and notices have been issued to Energean's customers and other stakeholders," the company said in a statement.

A spokesperson for Energean said the Power FPSO contributes a "significant" amount to the group's total output.

Shares in Energean were down 6.9% at 0808 GMT.


(Reuters - Reporting by Yadarisa Shabong in Bengaluru; Editing by Mrigank Dhaniwala)

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