Energean PLC on Friday said it has temporarily halted production at its Energean Power floating production, storage, and offloading unit following an order from the Israeli Ministry of Energy & Infrastructure.
The London-based company with energy assets in Israel and the UK North Sea, as well as in Egypt, Italy and Croatia, said the directive requires a suspension of production and associated activities on the FPSO.
The company’s announcement comes after Israel launched an attack on Iran’s nuclear sites and military commanders overnight on Friday.
‘The safety of Energean’s staff is our top priority,’ the company said. ‘All production activities have now been temporarily suspended and notices have been issued to Energean’s customers and other stakeholders.’
Energean added it is in ongoing discussions with the Israeli ministry and other relevant parties to support a safe and timely resumption of operations.
Shares in Energean were down 5.7% at 811.50 pence in London on Friday morning, making it the worst performer on the FTSE 250 index.
Copyright 2025 Alliance News Ltd. All Rights Reserved.