Accueil NEWS Egypt: Energean's offshore gas project now online

Egypt: Energean's offshore gas project now online

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

Oil and gas company Energean said that the first gas was delivered to North El Amriya and North Idku ("NEA/NI") in the Mediterranean Sea off Egypt. 

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

Gas is produced from the NEA 6 well, with the remaining three wells due to come on stream in 2023.

The NEA/NI development, located in shallow water offshore Egypt, contains approximately 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 under the NEA/NI development

The development utilises existing infrastructure and involves the subsea tie-in of four wells to Energean's North Abu Qir PIII platform.

Mathios Rigas, Chief Executive Officer of Energean, said: "Our successful development of the first gas at NEA/NI is a good example of our commitment to Egypt and our long-standing partnership with the Egyptian Ministry of Petroleum, EGPC and EGAS, creating value for all stakeholders. 

"We are delighted to introduce new production to our Eastern Mediterranean gas portfolio and to meet the needs of Egypt and Egyptians by ensuring energy security with a reliable supply that has a lower carbon footprint than alternative domestic energy sources.

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