Energean (GB:ENOG) has released an update.
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Energean plc has announced the successful commencement of production at the Cassiopea gas field, located offshore Italy, with one out of four wells currently active. The field, which Energean shares a stake in with Eni, boasts approximately 10 billion cubic meters of gas reserves and is expected to reach peak annual production of 1.5 billion cubic meters. Despite the field being part of assets slated for sale to Carlyle International Energy Partners, the company views the project as a testament to its commitment to energy security and economic stability.
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