Energean announced today the first export of crude oil in the history of Israel.

Specifically, by using the storage areas and the unloading infrastructure of the ship “Energean Power”, the liquid hydrocarbons produced from the Karish field were safely unloaded on an oil tanker, destined for international markets.

The cargo was sold as part of a wider deal with Vitol and represents the first export of energy from a new source in the Eastern Mediterranean, which also generates additional revenue for Energean.

Mathios Rigas, CEO of the Energean group, said:

“We are very pleased and proud that Energean has contributed to Israel’s entry into the club of oil exporters in international markets. This is another milestone that reinforces Energean’s development path as a major player in the local and regional markets.”

Nick Witney, Energean Group Commercial Director, added:

“We remain focused on natural gas and our production in Israel plays a central role in the energy transition. However, light, good-quality crude oil produced by modern and low-carbon infrastructure, such as “Energean Power”, is in increased demand internationally.”

It is noted that, in the full development of its infrastructure, “Energean Power” will have a production capacity of 32,000 barrels of liquid hydrocarbons per day.