Energean, which focuses on gas production in the Eastern Mediterranean, said on Wednesday it has completed the operation of a second oil production line on its floating vessel "Energean Power", increasing the unit's liquid processing capacity by about 72 percent.

The company explained that the total liquid processing capacity has risen to 31,000 barrels per day from 18,000 barrels per day on the floating production storage and offloading (FPSO) unit "Energean Power".

This step contributes to increasing its share of revenues linked to Brent crude prices, which are experiencing a sharp rise amid volatility caused by Iran's war.

Energean expects average liquid production from Israel, a key region for the company, to be between 17,000 and 21,000 barrels per day in the second half of 2026, after averaging 10,000 barrels per day in the first half.

In May last year, Energean lowered its production and dividend forecasts for 2026, after a 41-day suspension of its operations in Israel negatively impacted first-quarter results.