Asset SaleEnergean's sale of its assets in Egypt, Italy, and Croatia to Carlyle for up to $945 million demonstrates a strong focus on value and commitment to returning excess cash to shareholders.
Environmental And Financial ImpactThe asset sale is expected to reduce Energean's scope 1 and 2 emissions intensity by around 40%, lower decommissioning liabilities by over $600 million, and be immediately free cash flow accretive.
Project DevelopmentEnergean has announced the Final Investment Decision for the Katlan development project, which is expected to enhance gas sales agreements and allow access to higher-priced international markets.