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

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

This step contributes to increasing its revenue exposure related to Brent crude oil prices, which are experiencing a sharp rise amid volatility caused by the Iran war.

Energean expects average liquids production from Israel, a key region for the company, to range 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, Energean had lowered its production and dividend expectations for 2026 after a 41-day halt of its operations in Israel negatively impacted first-quarter results.