Energean’s performance in Egypt once again proved robust during 2024 with its key Egyptian assets boosting production, according to a company report.

The report highlighted that Energean’s production from Egypt, Italy and Croatia averaged 40,000 boe/d, recording an 18% increase year-on-year primarily due to Egypt, which saw a full year of production from NEA/NI, the start-up of the NAQPII#2 well on the Abu Qir field in January 2024 and the start of production from Location B in August 2024.

It also elaborated that despite regional variations, the overall group production mix remained consistent at 83% gas and 17% liquids which is the same as in 2023.

According to the general results, the company achieved sales and revenues amounted to $1,779 million compared to $1,420 million achieved in 2023, an increase of 25%.

Also, its adjusted EBITDAX recorded $1,162 million, representing a 25% increase compared to 2023 which reached $931 million.

Regarding production and operations, the average production of the company recorded 153,000 barrels of oil equivalent per day (boe/d) in 2024, compared to 123,000 boe/d in 2023.