LONDON, Oct 25 - Energean (ENOG.L) , opens new tab has added a second oil production unit to a floating production vessel off Israel which is set to boost its crude output by up to two-thirds in the coming months, an industry source said.

The M10 oil train module was lifted in recent days onto the Energean Power floating production and storage offloading (FPSO) vessel, which produces predominantly natural gas from the Karish field for the domestic Israeli market.

Installation and commissioning activities of the module are expected to take up to six months, the source said. It will increase oil production to 20,000 to 25,000 barrels per day, from around 15,000 bpd today.

Energean produced 146,000 barrels of oil equivalent (boed) in the first six months of the year. It aims to double its production in the coming years, primarily through development of new prospects in Israel, including the Katlan field.

Production at Karish, which is close to Israel's maritime border with Lebanon, has been largely uninterrupted since the start of the Middle East conflict on Oct. 7. In July, the Israeli military said it had shot down a drone launched from Lebanon which it said was heading to the Energean FPSO.

The company had agreed in June to sell its assets in Egypt, Italy and Croatia to private equity fund Carlyle (CG.O) , opens new tab for up to $945 million.

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https://www.reuters.com/business/energy/energean-loads-new-oil-unit-onto-vessel-offshore-israel-source-says-2024-10-25/