Energean PLC (LSE:ENOG) shares fell 5% after the company announced a temporary suspension of production at its Energean Power floating production storage and offloading (FPSO) unit.
The halt was ordered by Israel’s Ministry of Energy and Infrastructure on 13 June, citing the recent geopolitical escalation in the region.
In a statement containing inside information, Energean said all activities aboard the FPSO have ceased, and customers and stakeholders have been informed.
The company emphasised that staff safety remains its top priority and confirmed it is in ongoing discussions with the ministry and other parties to enable a safe restart.
No timeline for resumption has been given, but Energean said further updates will be issued when available.
The shares fell 50p to 820.5p.