Energean reaches FID on Nile Delta project

CAIRO, January 22, 2021 – Energean has sanctioned the USD 322-million North El Amriya & North Idkunea (NEA/NI) subsea project in Egypt’s Nile Delta region, the UK-listed company said on Thursday.

The NEA/NI project will involve subsea wells tied back to existing infrastructure, with first gas expected in the second half of 2022. TechnipFMC has been selected to provide EPIC works.

The NEA concession holds two discovered and appraised gas fields, while NI holds four discovered gas fields, one of which is ready for development, the company said in a press release.

In total, the NEA/NI development holds 49 million boe of 2P reserves, 87% of which is gas. Energean foresees peak production of around 2.55 mcm (90 mcf) per day plus 1,000 boepd of condensates.

“The NEA/NI drilling campaign is expected to be integrated with a broader Abu Qir drilling campaign, providing synergies on capital expenditure,” the company said.

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