Strategic sale of Egypt, Italy and Croatia portfolio

Energean plc (LSE: ENOG, TASE: אנאג (is pleased to announce that it has entered into a binding agreement for the sale of its portfolio in Egypt, Italy and Croatia to an entity controlled by Carlyle International Energy Partners (“Carlyle”) for an enterprise value (“EV”) of up to $945 million, of which $820 million is firm (the “Transaction”). Completion is expected by year-end 2024, subject to customary regulatory and antitrust approvals.

Energean assets being sold include:

• Abu Qir Gas Fields
• Cassiopea Gas Field
• Clara Complex Gas Fields
• Izabela Offshore Gas Field
• North Idku Gas Field 
• Rospo Mare Oil Field
• Sarago Mare Oil Field
• Vega Oil Field