First gas flows from project off Egypt - OFFSHORE ENERGY

March 10, 2023

Melisa Cavcic

Oil and gas company Energean has achieved the first gas from a well located offshore Egypt while the remaining wells are expected to come online later this year. This brings the firm closer to achieving its 200 kboed medium-term production target.

Back in January 2023, Energean outlined that its “key development projects” – Karish North, NEA/NI, Cassiopea – would enable it to deliver its 200 kboed mid-term production target. To this end, the company disclosed plans for the first gas from NEA/NI in the first half of 2023 while the firm’s expansion in Israel, including a development concept for the 67 bcm Olympus area, was expected to be communicated in 1H 2023. On the other hand, the first gas from Cassiopea in Italy was anticipated in 1H 2024.

In an update on Thursday, 9 March 2023, Energean confirmed that the first gas had been delivered at the North El Amriya and North Idku (NEA/NI) project off Egypt. According to the company, the gas is being produced from the NEA#6 well while the remaining three wells are expected to be brought online over the course of 2023.

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.

Energean on course to deliver first gas from Karish field in 2021 - OILFIELD TECHNOLOGY

Friday, 20 March 2020 16:00

Nicholas Woodroof

Energean Oil and Gas plc has announced its audited full-year results for the year ended 31 December 2019 (FY19).

Highlights

• Karish was 72% physically complete at 31 December 2019 and remains on track to deliver first gas in 1H21. Firm gas sales of 5 billion m3/yr with a further 0.6 billion m3/yr to be converted to a firm basis immediately on publication of a satisfactory Karish North CPR, expected at the end of March 2020.
• Post-period end, two of the three Karish development wells successfully flowed during clean-up operations, confirming that each will be capable of delivering up to the design limit of 300 mmscf/d (c.3 billion m3/yr). The third development well is currently in the clean-up phase and production performance is expected to be similar, confirming that the three wells will be able to produce to the 8 billion m3/yr capacity of the FPSO.

Energean growing Mediterranean operations with Edison E&P acquisition - OFFSHORE MAGAZINE

Edison E&P portfolio overview

Jul 8th, 2019

LONDON – Energean has conditionally agreed to acquire Edison Exploration & Production (Edison E&P) from Italy’s Edison for $750 million.

An additional $100 million could be payable following first gas from the Cassiopea gas development offshore Sicily, which is expected to come onstream in 2022. Eni discovered the field in 2008, reportedly in a water depth of 560 m (1,837 ft) and 22 km (13.7 mi) from the coast of Agrigentos.

Edison E&P has producing assets in Egypt, Italy, Algeria, the UK North Sea and Croatia; development assets in Egypt, Italy and Norway; and exploration opportunities across the portfolio.

The company has 2P reserves of 292 MMboe and 2018 net production of 69,000 boe/d.

Energean’s goal is to become the leading independent, gas-focused E&P company in the Mediterranean region, and the Edison portfolio should complement its own interests, the company said.

The enlarged group will have total 2P reserves of 639 MMboe and will be one of the largest independent E&P companies listed on the London and the Tel Aviv Stock Exchanges.