Energean Bumps Up Abu Qir Output

Energean Bumps Up Abu Qir Output
Τρι, 27 Σεπτεμβρίου 2022 - 19:07

Energean has started up a new well on its Abu Qir concession, in Egypt. Abuqir Petroleum, a joint venture of Egyptian General Petroleum Corp. (EGPC) and Energean, has completed a new sidetrack, the NA/Q-PII#6 ST

Energean said the well had started up with production of 26 million cubic feet per day of gas. It is on the existing NA/Q-PII platform, around 35 km north of the coast.

The company said the well had targeted the BKES and IKES Pliocene reservoirs. It has “significantly exceeded” Energean’s initial expectations. The well encountered an additional layer in the BKES formation, it said, boosting performance.

Energean said its Egyptian assets were a “valuable constituent of our East Mediterranean gas focused portfolio”. The company plans to continue work in the North El Amriya and North Idku (NEA/NI) and Abu Qir concessions, it said.

Energean has previously said it would drill four more infill wells on Abu Qir in 2023-24. The area produced 24,800 barrels of oil equivalent per day in the first half of this year, of which 86% was gas.

The joint venture and EGPC agreed to amend the area’s production-sharing contract (PSC) in August. The renegotiation improved gas pricing for Abu Qir.

In addition to its Abu Qir work, Energean is also developing the NEA/NI project. As of the end of July, this was 72% complete, it said. Contractors have finished the subsea installation work and it was about to spud the first well.

It will tieback this new project to the Abu Qir III platform. Energean expects to reach first gas by the end of the year. The company is also nearing first gas on its Karish field, offshore Israel. It has previously guided for September or October.

(energyvoice.com, 23/09/2022)

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