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Gas producer Energean flags possible $356mln hit from Cassiopea reserve downgrade
['Rishab Shaju', 'Shadia Nasralla']
Zawya.com - All Regional News
Energean on Tuesday flagged a possible 300 million euro ($356 million) impairment to its 2025 results related to its minority stake in the Eni-operated Cassiopea gas field in Italy.
It added that it was in arbitration proceedings with Eni, seeking 265 million euros for costs unduly paid and lost revenue while Eni wants $154 million for disputed invoices.
The Eastern Mediterranean-focused gas producer, which is due to report 2025 results on March 19, suspended operations in Israel last year due to geopolitical risks.
The company said 2025 production averaged 154,000 barrels of oil equivalent per day and forecasted this year's output at 140,000-150,000 boed.
($1 = 0.8426 euros) (Reporting by Rishab Shaju in Bengaluru and Shadia Nasralla in London; additional reporting by Francesca Landini, Editing by Eileen Soreng, Kirsten Donovan)