Companies suspend oil production offshore Israel

Energean plc and Chevron received notice from Israel’s Ministry of Energy and Infrastructure on Feb. 28, 2026, to temporarily suspend production and activities offshore Israel following the collective strike on Iran by the US and Israel and the growing conflict in the region.

Energean was told to suspend production from the Energean Power FPSO. The vessel lies 90 km offshore Israel and produces gas from Karish field and the Olympus area. It had previously suspended production June 16, 2025, due to geopolitical tensions in the region.

Energean said it will maintain a close dialogue with the Ministry and relevant stakeholders to facilitate the safe resumption of production as soon as possible.

Chevron Mediterranean Ltd. also received a notice from the Ministry to suspend operation of the Leviathan platform until further notice. 

Pursuant to security requirements, the Commissioner of Petroleum Affairs is authorized to issue additional instructions relating to the operation of the platform. Accordingly, natural gas production from the Leviathan reservoir has been suspended.

Earlier this year, Chevron and its Leviathan partners NewMed Energy and Ratio Energies reached final investment decision to expand production capacity of the platform, which lies 10 km offshore Dor, Israel. An initial expansion would include drilling additional wells, adding subsea infrastructure, and enhancing treatment infrastructure increase total natural gas delivery to about 21 billion cu m/year (bcmy) from the reservoir. Leviathan, the largest natural gas discovery in the Eastern Mediterranean, typically produces about 12 bcmy.