RE: 865 broker target2 Dec 2020 13:55
Excellent outlook for ENOG, especially Edison E & P acquisition very soon in December
-- Expected closing of the Edison E&P acquisition in December 2020
-- Completion of the subsea and onshore works associated with the Karish project is expected in 2Q 2021
-- Sailaway of the Energean Power FPSO from Singapore to Israel expected in Summer 2021 with first gas in 4Q 2021
-- Final Investment Decision ("FID") on the Karish North (Israel) and NEA/NI (Egypt) development projects are both expected before year end 2020
-- Outcome of discussions with the Greek Government regarding a financing package to support continued investment in the Prinos area expected shortly
-- Roll-out of renewable energy sourcing strategy across all operated assets, further enhancing our 3-year, 70%+ carbon intensity reduction plan, towards our net-zero commitment
-- 2020 pro forma full year working interest production guidance is maintained at 44.5 - 51.5 kboed(2)
-- 2020 pro forma consolidated group capital expenditure is reduced to $625 - 685 million, previously $635 - 705 million