Egypt

Energean’s NEA/NI Offshore Gas Project in Egypt Now Online

Published on : 2023-03-11

Oil and gas company Energean said that the first gas had been delivered at North El Amriya and North Idku ("NEA/NI"), in the Mediterranean Sea, offshore Egypt. 

Energean sanctioned the project in January 2021, representing a development period from the final investment decision to the first gas of two years and two months. 

Gas is being produced from the NEA#6 well, with the remaining three wells expected to be brought online during 2023.

The NEA/NI development, located in shallow water, offshore Egypt, contains an estimated 39 mmboe of 2P reserves (88% gas) with net working interest production expected to peak at 15 - 20 kboed (88% gas) in 2024. The 2P reserves figure includes 10 mmboe located in the Abu Qir licence to be developed through the NEA/NI development

The development uses existing infrastructure and involves the subsea tieback of four wells to Energean's North Abu Qir PIII platform.

Mathios Rigas, Chief Executive Officer of Energean, commented: "Our successful development of first gas at NEA/NI is a good example of our commitment to Egypt and longstanding partnership with the Egyptian Ministry of Petroleum, EGPC, and EGAS, creating value for all stakeholders. 
"We are delighted to bring on new production into our East Mediterranean gas-focused portfolio, as well as meeting the needs of Egypt and Egyptians through underwriting energy security with reliable supply that has a lower carbon footprint than alternative sources of domestic energy."

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