Energean (LSE:ENOG) said commissioning of the second oil train on its Energean Power floating production, storage and offloading (FPSO) vessel was completed safely on 13 July.
The London and Tel Aviv-listed oil and gas producer's total liquids processing capacity on the FPSO has risen from 18,000 barrels per day (bpd) to 31,000 bpd. Liquids production was successfully tested at rates of up to 21,000 bpd.
Further testing at higher production rates is expected in August, once certain Katlan-related subsea tie-in work is complete.
Liquids production from Israel averaged 10,000 bpd in the first half of the year and is expected to average 17,000 to 21,000 bpd in the second half, in line with Energean's 2026 guidance.
The company said the milestone strengthens its position as Israel's largest liquids producer and increases the proportion of its revenues linked to Brent pricing.
News Intelligence what this means for the company
Energean has successfully commissioned the second oil train on its Energean Power FPSO, doubling liquids processing capacity from 18 kbbl/d to 31 kbbl/d and lifting tested production to 21 kbbl/d. The milestone directly supports the company's H2 2026 guidance of 17–21 kbbl/d from Israel and increases the proportion of revenues tied to Brent pricing, a structural benefit as the company ramps production toward its revised 130–140 kboed full-year target.
The second train's commissioning removes a near-term execution risk and validates the production ramp embedded in 2026 guidance. Brent-linked revenue exposure is a material tailwind in a higher oil price environment, though further testing in August and Katlan subsea tie-in work remain on the critical path to sustaining higher run rates.
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