Energean temporarily suspends FPSO operations following Iran attack

13th Jun 2025 09:09

(Sharecast News) - British gas producer Energean said on Friday that it has temporarily suspended production and activities at its power floating production, storage and offloading vessel located off the coast of Northern Israel.

Energean stated it had received notice from Israel's Ministry of Energy and Infrastructure ordering the suspension of operations after the country launched a widescale attack against Iran, which launched 100 drones in retaliation.

"All production activities have now been temporarily suspended and notices have been issued to Energean's customers and other stakeholders," the company said.

Energean's power FPSO contributes a "significant" amount to the FTSE 250-listed company's total output.

As of 0950 BST, Energean shares were down 6.97% at 800.50p.

Reporting by Iain Gilbert at Sharecast.com