Energean, the international energy company focused on natural gas exploration and production, announced that its Egyptian assets showed “an excellent performance” during the first nine months of 2025 with production of 29,000 barrels of oil equivalent per day (boe/d), according to its latest trading update report. The strong Egyptian performance offset the effect of a decline in production at the company’s interest in the Cassiopea Field, Italy.
The report pointed out that Energean’s average production through the nine months ending September 30, 2025, came in at 151,000 boe/d, which is slightly lower than the 156,000 boe/d posted for the corresponding period in 2024.
The company attributed the year-over-year (y-o-y) decline to the temporary suspension of production in Israel in June 2025. Despite this, the report affirmed that Energean remains on track to meet its full-year production guidance of 145,000–155,000 boe/d.
“Our key priorities are to enhance cash flow through increased sales in Israel—both in the spot market and via new export pathways (Egypt and Cyprus)—drive further cost efficiencies and focus on balance sheet strength.” Mathios Rigas, Energean CEO, said.
The report pointed out that discussions with the Egyptian General Petroleum Corporation (EGPC) regarding merging Energean concessions are advancing positively, with both parties aiming to finalize terms by the end of the year.
The report noted: “The primary objective is to prolong the concessions’ economic lifespan and enable new developments by introducing better fiscal structures and pricing terms.”
Energean has also been informed by EGPC that it plans to pay off the outstanding dues by year-end and will stay up to date with future monthly payments.
In May, Energean revealed its plan to optimize its offshore concessions in Egypt while exploring new areas in the Nile Delta Region. Energean has built a strong and growing presence in Egypt since acquiring Edison E&P’s assets, becoming a key gas producer in the Nile Delta. Its portfolio includes the mature Abu Qir field and the NEA/NI satellite developments, which delivered first gas in 2023 and continue to support Egypt’s domestic supply.
